The chair buffering role in relation to the CEO during company turnaround execution: a UK-based qualitative study

While in recent years there has been a surge of studies examining the role and contribution of the chair of the board, there is still a surprising paucity of work examining the leadership role and behaviour of the chair under specific company and environmental conditions. Specifically, not much literature examines the chair role in relation to the CEO during company turnarounds, or more generally during crisis. This study conducts elite interviews with 30 chairs and CEOs of large UK listed companies to examine the chair role in relation to the CEO during turnaround execution. Findings from thematic analysis, characterize the chair leadership as a dynamic buffering role that insulates the CEO and management team from unwarranted performance pressures arising from shareholders and other stakeholders (for example market analysts), while simultaneously regulating CEO emotion, cognition and behaviour towards such pressures, thereby ensuring strategic alignment and direction during the turnaround execution.