The CEO-chair relationship in many boardrooms remains intact, but underutilised. It is often professional and defined by “good governance” reporting rather than a deep strategic partnership. As such, we’re witnessing a growing desire among some leaders to bridge this distance. Leaders recognise that, in a year promising continued geopolitical and economic complexity, a strong CEO-chair alliance could be a strategic force multiplier. The question for many is no longer if they need to deepen the relationship, but how.
Egon Zehnder’s latest 2025 Global CEO Reflections Study (surveying 1,235 leaders, including 132 from Apac) highlights both the current gap and the immense potential for a new Social Compact in Singapore’s boardrooms.
The opportunity for connection
The data points to a significant opportunity to deepen trust. When we asked CEOs who their “best resources” are for making sense of today’s complex challenges, they did not yet look to the head of the table.
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Globally and in Apac, CEOs ranked their chair fourth as a trusted resource. Only 25% of Apac CEOs listed their chair as a key sounding board. They are nearly twice as likely to turn to “other CEOs” (46%) or their own executive teams (73%) than to their chair.
This signals untapped potential. In a recent private gathering of over 30 Singapore-based CEOs, managing directors and regional heads we hosted, the sentiment was one of reflection. Some leaders expressed a genuine desire to move beyond “reporting” relationships to true thought partnership.
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In such “reporting” relationships, executives are often trained to present only polished solutions to the board. But in a complex world, this limits the value a chair can add. The vast experience of the chair and independent directors (IDs) — a “wealth of information,” as one participant noted — is a reservoir of wisdom waiting to be fully utilised.
Supporting the new generation
Strengthening this bond is particularly vital given the changing leadership demographic in our region. Our study found that over a third (34%) of Apac leaders are first-time CEOs. Furthermore, 30% have been in their role for less than two years.
A significant portion of local and regional business leaders are navigating unprecedented volatility, including supply chain pivots, AI integration, and talent wars, with some leading for the first time. A robust and encouraging relationship between the chair and the CEO, especially for first-time CEOs, can significantly help them navigate these challenging times with confidence.
The 2026 social compact
Building this deeper partnership requires intentionality. It requires a proactive reset of the dynamic in a new “contract” on how the CEO and chair can co-create value. Based on our advisory work with C-suites and boards, here are the three pillars of what this new Social Compact could look like for 2026:
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1. The strategic compact: From harmony to “healthy tension”
The new compact must value constructive friction over polite harmony. A great chair-CEO relationship isn’t just about getting along; it is about maintaining a “healthy tension.” When a CEO is too strong, the board can become disempowered. When a chair is too strong, it risks undermining management.
Chairs need to pivot from monitoring compliance to co-developing the strategy. This means engaging before the plan is finalised. As one leader at our gathering noted, boards need to invite “vulnerability” to shape strategy together. When divergent views arise, the goal shouldn’t be “who is right”, but understanding the different routes to the same goal.
2. The cultural compact: A safe space
Leaders understand the need for openness, as over half (52%) of Apac CEOs rate “cultivating a culture of curiosity” as extremely important. One CEO recently described this mindset as returning to a “child’s stage of learning” and being unafraid to ask simple questions.
To unlock this, the chair must create a psychological safety net where “challenging views” are welcomed and where a CEO can say, “I don’t know,” without fear of judgment. Our data indicates that Apac leaders are significantly more focused on “ensuring the inclusion of diverse and challenging views” (27% rate it extremely important vs. 19% globally), and the chair sets the tone for this culture.
Building this culture of safety requires an understanding of how each other operates under stress. In our leadership workshops, we often explore “survival patterns” — the instinctive ways leaders tend to react when pressure is highest:
For example, a chair who is a natural “sparker” might inadvertently destabilise the room with high-energy debate during a crisis. Conversely, a CEO might be a “pleaser”, instinctively withdrawing to preserve harmony, and avoiding the friction that drives strategy. Meanwhile, a “structure-seeker” might dig in their heels, reverting to rigid plans just when agility is needed most.
This framework isn’t about pigeonholing leaders into simplistic categories; rather, it’s a call for self-awareness. Understanding these default patterns is critical, especially as our global data shows that the median CEO-chair overlap has dropped to just 3.1 years. This compressed timeframe means pairs do not have years to learn each other’s cues. Being aware of these patterns early allows them to spot the dynamics in real time. It gives them the awareness and language to say, “I am reacting this way because of my stress pattern,” pause, and choose a better, more productive response.
3. The operational compact: Renegotiating the terms
Good compacts are explicit, not assumed. Chairs and CEOs should set aside time to formally renegotiate their rules of engagement. This isn’t about the employment contract; it’s about the relationship contract.
What is the cadence of our communication? Is it for approval or sounding out ideas? How will we manage disagreements in private? Defining these terms early builds the structural foundation for a resilient year ahead, preventing small cracks from turning into fractures.
In our work, we see that when this relationship is reset, when it moves from transactional oversight to genuine thought partnership, the impact cascades through the entire organisation. The CEO leads with greater confidence, the board engages with deeper insight, and the company becomes more agile in the face of change.
It’s time for a boardroom reset.
Ang Wan May is managing partner of Egon Zehnder Singapore
