Chairs in France: Conducting a Grand Orchestra

Abstract

Chapter 10 reveals that effective board chairs in France recognize the complex web of company stakeholders and the need to understand and balance their interests in order to ensure the long-term sustainable development of the company. Board leaders take on four principle roles: leading the board; interacting with the CEO and the management; representing the board in relationships with shareholders and stakeholders; and ensuring that the whole governance system functions properly. They are committed to their boards but keep a certain distance from their companies. They protect their own independence and the independence of their boards. They are patient with group decision making and let the discussions flow. Yet they use authority when debates become dysfunctional. Effective chairs listen well, are modest and leave room for CEOs to shine in public. They combine a strategic mindset with good company knowledge but stay out of operational issues. They delegate the financial side of shareholder relationships to the management and concentrate on governance. Effective chairs support their CEOs by mentoring them, serving as their sounding boards, providing “air cover” and opening doors for them.