What are the primary responsibilities of the Chairman for leading the Board and ensuring its effectiveness?
CS Professional · Ethics, Governance and Sustainability · PYQS · June 2017
What are the primary responsibilities of the Chairman for leading the Board and ensuring its effectiveness?
Answer & Explanation:
The role of the Chairman includes: setting the board agenda, ensuring that Directors receive accurate, timely and clear information to enable them to take sound decisions, ensuring that sufficient time is allowed for complex or contentious issues; encouraging active engagement by all members of the Board; taking the lead in providing a comprehensive, formal and tailored induction programme for new Directors, and in addressing the development needs of individual Directors to ensure that they have the skills and knowledge to fulfil their role on the Board and on Board Committees; evaluating annually the performance of each Board member in his/her role as a Director, and ensuring that the performance of the Board as a whole and its Committees is evaluated annually; holding meetings with the non-executive Directors without the executives being present; and ensuring effective communication with shareholders and in particular that the company maintains contact with its principal shareholders on matters relating to strategy, governance and Directors' remuneration. Ensuring that the views of shareholders are communicated to the Board as a whole.
Topics: Corporate Governance
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