June 29, 2016
The sheer extent of the financial crisis caught companies and their leaders unprepared. They were not ready for the turmoil, or for the persistent market uncertainty that has followed. In the continuing uncertainty, ‘business as usual’ no longer exists and continual adaptation is now the corporate norm. Even when markets recover, transformation needs to be at the top of the agenda and the skills of a chairman are now truly being tested. Much has been written about what the role of the chairman encompasses and the processes that help chairmen fulfil their roles, yet little, if anything, is known about what makes a chairman both an exceptional chair and their outstanding role model for future chairmen.
Global professional services firm Alvarez & Marsal set out to discover what distinguishes exceptional chairmen from their peers in today’s turbulent economy. This report is based on the collective insights of 22 current and past chairmen, most of whom chair FTSE 100 and 250 companies, who have drawn on their experiences of working with over 120 chairmen in their careers.