Who is primarily responsible for the overall effectiveness of the board?

The Chair of the board is primarily responsible for the overall effectiveness of the board. This role involves several critical functions that ensure the board operates efficiently and fulfills its governance responsibilities.

The Chair is tasked with leading board meetings, facilitating discussions, and ensuring that all board members have the opportunity to contribute to decision-making processes. Good governance requires the Chair to manage the dynamics of the board and maintain a collaborative environment where diverse perspectives can be heard. This position also involves engaging with shareholders, stakeholders, and senior management to communicate the board’s vision and oversight.

Moreover, the Chair plays a pivotal role in setting the agenda for board meetings, prioritizing key issues, and following up on the decisions made, ensuring accountability. By guiding the board's strategic direction and fostering a culture of transparency and trust, the Chair contributes significantly to the overall effectiveness of the board and its ability to meet its objectives.

Other roles, such as the Chief Financial Officer, Lead Director, and Chief Operating Officer, have important functions within the organization but do not hold the same overarching accountability for the board's governance and effectiveness. The CFO focuses on financial strategy, the Lead Director supports the Chair, particularly in leading independent directors, and the COO is responsible for daily operations. Each role is critical,