The Role of a chairman in early stage tech. companies is a little different from the standard in a small company due to the emphasis on growth and support of a growing team.
| Aspect | Comments |
| Team Building | - Contributing to the management development plan
- Mentoring and support for the CEO- acting as their private sounding-board
- Leading the process of recognising the need to change CEO and the search for the new CEO
- Monitoring the executive team's relationships and bringing action if conflicts arise
- Monitoring the performance of the executive team and actioning required change
- Providing discreet feedback and guidance for the CEO
- Conducts formal CEO appraisal/performance review
- Assists CEO in selection of exec board members
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| Financial Governance | - Ensuring financial reporting is regular, clear and appropriate
- Taking a lead role in negotiating remuneration
- In the absence of a dedicated FD, having oversight of the accounting process
- Recognising future cash requirements and ensuring the board deals with cashflow planning well in advance
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| Strategy | - Leading on the development of the company strategy
- Ensuring that investors interests are properly represented by the strategic options presented to the board
- Mentoring the CEO on the strategic development
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| Fundraising | - Providing a second voice in fundraising discussions
- Opening contacts for fundraising and corporate events
- Providing independent feedback to investors on fundraising comments
- Gathering feedback from investors on their view of the exec team
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| Representing Shareholders Interests | - At all times to remain clearly focused on the interests of shareholders over management
- Providing independent feedback to investors on the state of company and management
- Ensuring transparency of information flow between management and shareholders
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| Proceedings at Board Meetings | - Collects input from all directors and management on the board agenda - this facilitates surfacing difficult issues.
- Creates the board meeting agenda with the CEO.
- Ensures report(s) have been issued well in advance of the meeting
- Runs the agenda of the board meeting, holding items to schedule or extending the time spent on them if the consensus is to spend more then the appointed time on an item. This frees the CEO to focus on content and allows the Chairman to keep the meeting on track.
- Gathering input from, and providing feedback to, shareholders from the board meetings.
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Obviously all this is in addition to the normal obligations of any director!
