EDITORIAL: THE CHANGING ROLE OF THE CHAIR

The role of the Chair is crucial to the effective running of the board and the long-term success of a company. But the position is changing, and to better understand how it is changing, Deloitte held interviews, roundtable discussions and surveyed more than 300 board Chairs in 16 countries. In these conversations, several points of commonality emerged. As global Chairs navigate a new world of challenge and opportunity, the Deloitte survey revealed some fundamental areas of change.

Having open regular communication and involvement with the CEO is still seen as essential, but what has changed is the depth and breadth of that involvement. Chairs increasingly need to act as a guiding hand on topics ranging from resilience and innovation to culture.

Globally, Chairs recognise the changing relationship between business and society as one of their key areas of focus. Without exception, across countries, they feel a deep sense of responsibility for the impact their businesses have on communities and the planet—both negatively and positively.

Continuing in this vein, Chairs are increasingly preoccupied with the enormity of climate change and the challenges and risks for the company, whether regulatory, reputational, or operational, but they also see significant opportunities for businesses that take climate change seriously and shape strategies to address its impact.

Even before the pandemic, Chairs perceived an increasing frequency of crises than in the past and many had already experienced crises in their organisations. Chairs note that managing crises today calls for greater speed in decision-making, action, and communication, under greater public scrutiny than ever before.

You can read the full report of the survey here.