stjórnarformaður

Stjórnarformaður is an Icelandic term that translates to "chairman of the board" or "chairperson of the board" in English. It refers to the individual who presides over the meetings of a company's or organization's board of directors. The stjórnarformaður is typically a member of the board, often elected by the other board members. Their primary role is to guide the board's discussions, ensure that meetings are conducted efficiently and in accordance with established procedures, and facilitate decision-making.

The responsibilities of a stjórnarformaður can vary depending on the organization's bylaws and the specific context. Generally, they are responsible for setting the agenda for board meetings in consultation with other board members and the CEO. They also play a crucial role in maintaining order during meetings, ensuring that all members have an opportunity to contribute, and managing the time effectively. Furthermore, the stjórnarformaður often acts as a liaison between the board and the executive management, ensuring clear communication and alignment on strategic goals.

In some jurisdictions, the stjórnarformaður may also have specific legal duties related to corporate governance and oversight. They are expected to act in the best interests of the organization and its stakeholders. The position requires strong leadership, communication, and organizational skills, as well as a thorough understanding of the company's operations and strategic direction. The role is distinct from that of the CEO, although in some smaller organizations, the roles might be combined. The stjórnarformaður's focus is on governance and strategic oversight, while the CEO is responsible for day-to-day management.