Abstract
The Chairman is the leader of a board. As such, they should be prepared to step into the CEO's role for short periods until a successor is appointed if necessary. In larger companies, the review of the performance of the chairman is normally led by the senior independent non-executive (SINE) who gathers the views of the other directors and provides the chairman with feedback. In smaller companies or where there is no SINE, this is often done by the chief executive. Organizing the composition of the board includes dealing with the succession of the chief executive. With respect to organizing the composition of the board, clearly, the chairman needs to ensure that there is an effective nominations process, which the board supports. The CEO needs to possess a wide range of knowledge and skills and the behavioral characteristics required to lead the rest of the company. They must also not just be a good CEO but one relevant to the circumstances of the company. The evaluation of CEO's performance is normally led by the chairman within the context of the evaluation of the board's performance as a whole. As with any other positions, the chairman has to judge whether the board has the right CEO and this may not be as simple as looking at current performance. The potential to implement the plans for the future is just as important.
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