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Roles and responsibilities of chairman of board of directors - Essay Example

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Masters
Essay
Management
Pages 5 (1255 words)

Summary

Roles and Responsibilities of Chairman of Board of Directors (BOD):The chairman's role includes managing the board's business and acting as its facilitator and guide. This would involve: •managing the business of the Board and preside over its meetings; …

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Roles and responsibilities of chairman of board of directors

Roles and Responsibilities of Chairman of Board of Directors (BOD):The chairman's role includes managing the board's business and acting as its facilitator and guide. This would involve: •managing the business of the Board and preside over its meetings; •setting Board meeting agendas, taking full account of the issues and the concerns of all Board members; •ensuring that members of the Board receive accurate, timely and clear information, in particular about the Company’s performance, to enable effective performance of their duties;•monitoring progress towards the timely and effective achievement and implementation of the objectives, policies and strategies set by the Board and of other decisions taken by or on behalf of the Board;•facilitating the effective contribution of non- executive directors and ensure constructive relationships and open communication, both between non- executive directors and executive directors and between the Board and investors; •ensuring that members of the Board understand the views of major shareholders and other key stakeholders; •promoting the highest standards of corporate governance;•managing the Board’s time to ensure that sufficient time is allowed for discussion of complex or contentious matters; •ensuring that new directors receive an induction programme that is tailored and comprehensive; •monitoring and addressing the development needs of individual directors and of the Board as a whole and ensure that the performance of individual directors and of the Board
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