The role and responsibilities of Chairmen of Australian public companies ?
Hi there,
The role and responsibilities of chairmen of Australian public
companies are to build
a strong , vibrant organization that achieves it`s goals. Their
role in real business
of governance is:
Making policy, articulating the mission of the organization, and
sustaining it`s vision.
Choice of D&O (directors & officers) liability insurance is one
of the most important decision. Their job is to select and negotiate
the most suitable policy in this regard.
Role and responsibilities in relation to an entities financial
reporting,internal
control structure, risk management systems and internal and
external audit functions.
He creates policies that support the overall purpose of the
organization and guides in working with managers to accomplish
that purpose. Chairman deals with complex people and strategic issues.
The chairman`s role is that of a Servant Leader to the Board.
His responsibility
include:
1. Planning better board meetings.
2. Creating a Mission that makes a difference.
3. Making Diversity meaningful in the Boardroom.
4. Strategic Board Leadership.
5. Role in Policy Governance.
Chairman`s role is to reflect shareholdrs` interests. His job is
to conduct the affairs
of the business in shareholders and the company`sbest interests.
Performance of the company and creation of shareholders`s wealth is of
utmost importance to him.
In theory , he is supposed to help monitor Senior management and
assist with strategic direction.
Unlike their predecessors, the new Australian chairmen will be
young, University
educated and professionally qualified , technology savvy, more
worldly and will not necessarily have risen from the mailroom.
The most notable of these include 48 year old Melburnian
Margaret Jackson,the
chairman of Quantas and a director of ANZ Banking Group,who began
her career as a Director at the age of 19, when she joined the
Institute of Chartered Accountants
Student Services Committee. Margaret Jackson is now arguably the
most powerful
woman in Australian business as chairman of Quantas.
addl. links:
1.What makes a good chairman
http://www.smh.com.au/articles/2002/07/19/1026898914876.html
2.Coalition of rio-tinto shareholders
http://www.rio-tinto-shareholders.com/rebuttal.html
Hope this answers your question.
Warm regards,
Solutionpro_ga.
Hi
The answer is quite shalow,too general and lacking depth.
please elaborate
Regards
abcd1234-ga
The chairman's task is to lead the team of managers in order to enable
it to function effectively and efficiently. As well as carrying out
the same responsibilities of other managers, he or she also represents
the managing body in it's dealing with others and acts on its behalf.
Chairman's functions include:
Ensuring that the business of the managing body is conducted properly,
in accordance with the legal requirements.
Ensuring that meetings are run efficiently, focusing on priorities
and making best use of the time available.
Ensuring that all members have equal opportunities to participate
fully in discussions and decision-making.
Encouraging all members of the managing body to work together as a
team.
Acting in cases which may properly be deemed 'urgent' This is defined
in statute and applies where a delay in exercising a function would be
seriously detrimental to the interests of the company or member of
staff; and;
Making public statements on behalf of the governing body, where
delegated to do so.
The chairman's responsibilities are significant. There is a risk that
chairmen take on more than they can manage, possibly because other
managers are content to let them do so. There is also a danger
managing bodies invest too much power in their chairmen.
The chairman does not operate in isolation -the managing body is a
team. As chairman, you need to be clear about what you are able to do,
and what can and should be delegated to other managers. There needs to
be a shared understanding of responsibilities across the managing
body.
The way in which any individual chairman carries out his or her role
will vary, reflecting the particular style of the individual, the
managing body and the company. Each chairman needs to establish an
approach, which suits his or her own particular circumstances.
Perhaps of the most important pieces of advice is to put in abeyance
your own views. Yet it is the chairman's role to give guidance at
meetings when there is uncertainty amongst colleagues. Somehow the
chairman has to take into account the views not only of managers but
also staff, the local authority and in particular the deputy chairman.
Ideas are given to help achieve this almost impossible task.
To those who think that being chairman is a comfortable sinecure that
provides nothing but high respect, glory, reputation, credit and a
good name -think again. There is no place for hubris in this job. On
the whole there is much work and sometimes frustration. It could have
been written in jest that you should resign your full time job or
delegate. In fact of course, you must delegate and ensure you have
established an effective feed back system for otherwise you may find
tasks are not properly completed.
Start punctually and declare the purpose of the meeting. Set the pace
of the meeting and keep to time. Beware of repetition not only on your
part but also from your colleagues.
Beware of repetition not only on your part but also from your
colleagues. Use first names but this should not allow the meeting to
become so informal that it gets out of control. Encourage a
trustworthy and friendly atmosphere. Ensure continuous eye contact so
that you know when people wish to speak. Make certain that there is
fairness, equality and involve everyone.
Praise good points and build their self-esteem.
Use the clerk to help on legal meeting matters but you must give
decisions on points of order. Although perhaps only in jest. some
argue that procedural rules become necessary only when meetings are
falling apart. Avoid irrelevancies, remove minor points to outside
the meeting, clarify obscure points, be impartial, summarise
conclusions reached and agree action points. Avoid formal votes but
use your casting vote if essential. Be authoritative but not
authoritarian. Finally, having established trust with your clerk
arranges to see a draft of the minutes. If they are sent by email it
is very simple to modify inaccuracies and to return them without
delay.
Get to know the first names of as many staff as possible. It is
essential to build up a caring relationship with them so that you can
ensure minor problems are dealt with before they bubble over into
major ones.
Be careful, though, not to usurp the normal lines of management
control here; never forget that the head is the boss and he/she must
always be involved in issues affecting his/her line of control. But
the information gleaned by informal chat is invaluable. Listen to your
manager colleagues. They will also be hearing what is going on and I
cannot stress how important this knowledge is. Yet beware of the grape
vine. Keep your CEO totally in the picture and exchange confidences
with your deputy chairman.
Roll the wicket if you feel it is necessary for a new idea to be
thought through by trying it out informally.
Rarely does it help for big issues to be a surprise. If a change is
needed somewhere, ensure that ideas are exchanged between those
involved before a formal decision is taken. Ensure that the head and
your manager colleagues know what is your thinking and what are your
priorities.
The Chairman shall be the principal officer of the branch of the
Association. He shall preside at all branch meetings and has the
rights and duties specified in the by-laws.
Chairman shall preside at each meeting.
In the case of equality of votes, the Chairman of the meeting shall
be entitled to a second or casting vote
The committee shall hold committee meetings at such times as are
decided by the Chairman
Besides all this ,chairman has a role to play in Australia's social
and economic development. The role of chairman is to address social
disadvantage. He should negotiate balance between social, economic and
environmental considerations.
I have tried to give to more elaborate and in-depth answer this time.
I hope you would find it to your satisfaction. I deeply regret the
inconvenience caused to you.
Warm regards,
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