By Bothwell Nyajeka
HAVING served as board chair for a number of companies, listed and unlisted, I have come to understand, in a very personal way, why leadership at the top is often described as lonely.
Indeed, the phrase “it is lonely at the top” is not a cliché; it is a lived reality for anyone who has occupied the chairperson’s seat.
In corporate governance theory, directors are described as being jointly and severally responsible for the affairs of a company. In practice, however, the ultimate burden of responsibility rests squarely on the shoulders of the board chairperson. When matters are going well, success is shared. When things go wrong, the buck stops with the chair.
One of the clearest illustrations of this reality is decision-making in moments of deadlock. Boards are, by design, collective decision-making bodies. They bring together diverse skills, experiences, and perspectives to arrive at sound judgments. Yet there are times when consensus is impossible. In such moments, the chairperson is expected to break the deadlock.
In some organisations, the chair even holds a casting vote. Where the board is evenly split for or against a resolution, it is the chair’s vote that determines the outcome.
That decision, taken in isolation at the very moment when opinions are divided, can weigh heavily. You know that whichever way you decide, some directors will feel unheard or dissatisfied. Yet the company requires clarity and direction. Leadership demands that you decide and live with the consequences.
The solitude of board leadership becomes even more pronounced in times of crisis. The chairperson is the face of the company and, in many cases, its principal spokesperson.
During my time as chair of a bank, whenever there was an issue with the central bank, it was the chairperson who received the call. The expectation was clear: you had to know the full facts. There was no room to say, “management told us,” or to deflect responsibility by blaming management. As chair, it was your head on the block.
The same applies in engagements with shareholders. At annual general meetings or extraordinary general meetings, it is the chairperson who stands before shareholders to answer difficult questions on performance, strategy, governance, and sometimes failure. Shareholders do not want excuses; they want assurance, accountability, and confidence. The chair must listen carefully, steer the conversation constructively, and maintain the confidence of the meeting, often under intense scrutiny from shareholders and stakeholders.
Through these experiences, I have learned that effective board leadership is not about being the smartest person in the room. It is not about dominating discussions or having all the answers. Rather, it is about being effective, being a good listener, asking the right questions, and knowing when to support management and when to challenge it.
Some of the most important contributions a chairperson makes never occur in the boardroom itself. They happen over coffee, at the farm, in late-night emails or WhatsApp messages, or in moments of quiet reflection before or after meetings. These informal interactions help shape decisions, resolve tensions, and build alignment. They are grounded in trust, genuine relationships, and rigorous preparation.
Chairpersons can actively mitigate solitude by building high-performing, cohesive, and strategic boards. Over the years, certain habits have stood out as critical to building effective board leadership.
First, cultivating the right boardroom culture is essential. The boardroom must be a safe space, one that encourages open dialogue and allows even uncomfortable issues to be raised and discussed honestly. It should never become a forum for witch hunts, settling old scores, or boosting egos. The chairperson plays a central role in setting this tone and ensuring that discussions remain focused on the best interests of the company.
Second, relentless preparation is essential. A chairperson must work closely with the company secretary and the chief executive officer to ensure that board agendas are well thought through, that papers are of high quality, and that key resolutions are properly framed for decision. Beyond meeting preparation, the chair must stay informed about industry trends, emerging risks, and developments in corporate governance. This requires continuous reading, learning, and reflection.
Third, listening and facilitating debate are core board leadership skills. A good chair creates space for divergent views and ensures that quieter voices are heard. Understanding people, both management and fellow directors, is crucial. Often, the most valuable insights lie beneath the surface. The chair must ask questions that draw out perspectives that might otherwise remain unspoken.
Fourth, deep engagement with board committee chairpersons is increasingly important. In an era of heightened regulation, evolving cyber threats, artificial intelligence, and growing stakeholder expectations for transparency, much of the board’s detailed work happens at the committee level. Effective governance depends on strong committees and a chair who understands and integrates their work into the broader board agenda.
Finally, building genuine relationships and communicating with stakeholders is a critical, though often underestimated, aspect of the chair’s role. This includes relationships with shareholders, management, employees, fellow directors, and external stakeholders such as government, customers, suppliers, bankers, auditors, and lawyers. Engaging outside formal settings often provides richer insight into what is really happening within the organisation and its operating environment. Trust, mutual respect, and credibility are built over time, and they are key to good governance.
Board leadership is solitary, not because one is alone, but because ultimate responsibility cannot be delegated. The chair must carry the weight of decisions, expectations, and accountability, often quietly and without applause. Yet it is precisely this responsibility, handled with integrity, humility, and diligence, that defines effective leadership at the top.
Nyajeka is a Chartered Accountant and business leader. He has vast experience as a corporate executive and has sat on various boards in Zimbabwe, Botswana, South Africa and Uganda. He is currently chairman of ACR Solutions and is also a seasoned trainer and facilitator for the Institute of Directors Zimbabwe (IoDZ). For board advisory, executive coaching, leadership development and business turnaround consulting, Email him on: bnyajeka@acr4solutions.com