What is the primary role of the Chair in a company?

The primary role of the Chair in a company is to lead the board and ensure its effectiveness. This position involves overseeing the board's discussions, facilitating meetings, and ensuring that the board functions efficiently in fulfilling its responsibilities. The Chair also plays a crucial role in setting strategic direction in partnership with the CEO and other board members, ensuring that governance practices are upheld, and representing the organization to stakeholders.

In this context, managing daily operations, as could be expected from a managing director or CEO, falls outside the scope of the Chair’s responsibilities. Similarly, handling financial audits is typically a function reserved for the finance team or external auditors, not for the Chair. Overseeing marketing strategies would also be the role of the marketing department or its head, rather than the Chair, who focuses on governance and strategic oversight. Thus, leading the board and ensuring its effectiveness encapsulates the Chair's primary duties, making it the correct answer.