Introduction & Objectives

COO-C™ CHIEF OPERATING OFFICER – CERTIFIED™ CREDENTIAL CERTIFICATION PROGRAM OBJECTIVES

The COO-C™ Chief Operating Officer – Certified™ executive certification program is a unique and cutting edge management program for Chief Operating Officers, Executives, Leaders and Senior Managers who work across industry and Government, and are eager to achieve successful Operating management and execution. The COO-C™ Chief Operating Officer – Certified™ program is aimed at the present and next generation of Operating Executives and Leaders, Senior Financial Managers, Finance Leads, Senior Managers, Managers, Project Managers, and Financial Managers working for dynamic global companies and Governmental agencies who need to broaden their horizons in the field and dimensions of Operating Management and Operations Management.

COO-C™ Chief Operating Officer – Certified™ is best global executive certification & training program for Chief Operating Officers (COOs).

9 REASONS TO CHOOSE THE C-SUITE INSTITUTE™ EXECUTIVE PROGRAMS

1. All C-Suite Institute™ Executive education program modules utilize case studies to reinforce teaching, evoke independent analysis and research; and provoke deep thought and critical thinking among participants
2. C-Suite Institute™’s Curriculum is Global Based & has International Perspective – Applicable across all major continents (Africa, Europe, Asia, Australia, Americas)
3. Applied & Practical Insights related to your industry and C-suite/Executive functions
4. Renowned Faculty – Our Professors hold Advanced/Graduate/Post Graduate Degrees, and have worked in or currently work in Executive level positions
5. Diverse Participant Mix from all geographies across the Globe
6. Participants work across the top 50 Industries (Industries range from Aerospace to Information Technology (IT) to Finance & Banking to Oil & Gas to Energy to Utilities and numerous more)
7. Participants attend from Fortune 500 & Global 2000 companies; Governments (local, state, Federal, National) from around the world; and International organizations and firms such as UN, World Bank, IMF, NASA, ICAO and numerous more
8. Participants attend from Major World Governments in G-8, G20 & BRICS countries
9. Participants attend from Major sports organizations such as FIFA and UEFA

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

Requirements

COO-C™ CHIEF OPERATING OFFICER – CERTIFIED™ CREDENTIAL CERTIFICATION PROGRAM REQUIREMENTS PROCESS:

ADMISSIONS:

Admission is very selective and based on your professional level, achievement and organizational responsibility. No formal educational requirements apply, however most applicants have completed studies at the Bachelors or Masters or Doctorate levels and have backgrounds in Business, Management, Operations Management, Engineering, Finance, Computer Science, Information Management, Information Technology, Economics, Applied Sciences

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

Outline

COO-C™ CERTIFICATION CURRICULUM & MODULES:

COO-C™ CHIEF OPERATING OFFICER™ CERTIFICATION REQUIREMENTS:

The COO-C™ Chief Operating Officer – Certified™ credential certification executive program consists of 4 modules delivered over 5 days.

MODULE 1: FOUNDATIONAL

• Executive Leadership, (b) Executive Strategy & Policy, (c) Executive Decision Making, (d) Executive Oversight, (e) Executive Transparency (f) Executive Accountability, (g) Executive Planning & Execution, (h) Executive Accounting, Finance & Budgeting, (i) Executive Project Management & Project Control Strategy & Planning, (j) Executive Problem Solving

 MODULE 2: CORE

(a) Leading & Managing People, (b) Leading & Managing Change, (c) Leading & Managing Goals & Priorities, (d) Leading & Managing Communications, (e) Leading & Managing Culture & Cultural Dynamics, (f) Leading & Managing Negotiations (g) Leading & Managing Organizational Politics (h) Leading & Managing Innovation & Technology (i) Leading & Managing Customers & Suppliers (j) Leading & Managing Competitive  Advantage, (k) Leading & Managing Risks & Uncertainty (l) Leading & Managing Quality (j) Leading & Managing Crisis (m) Leading & Managing Conflicts (n) Managing & Controlling Waste, Fraud, Abuse, Neglect & Negligence (o) Implementing Management Controls & Use of Efficient and Effective Control Processes (p) Leading & Managing Claims & Disputes (q) Developing, Training, & Retaining Talent & High Performance teams (r) Professional Responsibility, Ethics & Integrity

MODULE 3: FUNCTIONAL SPECIALIZATION/EXPERTISE

Advanced Chief Operating Officer and Operations Management Topics

MODULE 4: APPLIED/PRACTICUM

All sections of the ‘My COO-C Strategy & Execution Playbook™’ will be discussed and covered during the 5 days of lectures.

• Develop ‘My COO-C Strategy & Execution Playbook™’

All COO-C™ participants will develop and complete all sections of their ‘My COO-C Strategy & Execution Playbook™’ based on their chosen industry within 30 days of their COO-C™ program and class completion.

To fulfill their COO-C™ Chief Operating Officer – Certified™ credential certification requirements, all participants must attend and complete all Modules 1, 2, 3 & 4 over four days; and complete and submit their completed ‘My COO-C Strategy & Execution Playbook™ by the given due dates.

There are no written and timed exams given, however, to obtain COO-C certification, all participants must complete and submit their ‘My COO-C Strategy & Execution Playbook™’ within 30 days after class completion.

Professional Development Units (PDUs) for COO-C™ participation and completion is 96 hours:

A total of 96 PDUs is awarded for completion of the 5 day COO-C™ Chief Operating Officer – Certified™ executive certification modules (4) and ‘My COO-C Strategy & Execution Playbook™’

COO-C™ Program is given via ZOOM with Live Instructor:

The COO-C™ program is given in the English language only and all classes are conducted virtually via Zoom with a live and interactive world-class COO expert and C-Suite Institute Executive Certification Program Instructor

COO-C™ Executive Certification Program Materials (ELECTRONIC):

5 Days prior to the start of their COO-C™ executive certification class, all COO-C™ Participants will receive electronic formats and copies of their COO-C™ Executive Program lectures; electronic formats/copies of their ‘My COO-C Strategy & Execution Playbook™’, electronic formats/copies of templates used to develop the various sections of their ‘My COO-C Strategy & Execution Playbook™’ and copies of reference materials and supporting files.

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

Continuing Educational Units (CEUs)

Renewing COO-C™ executive certification

If you hold a COO-C™ Chief Operating Officer – Certified™ executive certification you must renew your COO-C™ certification every five years.

COO-C™ CEUs and COO-C™ Renewal Requirements: 12 CEUs Every 5 Years

Completion of 12 Continuing Educational Units (CEUs) or 120 contact hours is required to renew your COO-C™ Chief Operating Officer – Certified™ executive certification every 5 years. Your COO-C™ certification will be set to inactive status if you do not renew by the expiration date indicated on your COO-C™ certification.

All COO-C™ Chief Operating Officer – Certified™ holders must submit evidence of 120 hours of completion of COO related activities that have kept their ‘My COO-C Strategy & Execution Playbook™’ contents current; and their COO skills, knowledge, and competencies current through related COO training and activities over the course of every five-year period after their COO-C™ certification was attained.

Professional Development Units (PDUs) for COO-C™ participation and completion is 96 hours:

A total of 96 PDUs is awarded for completion of the 4 day COO-C™ Chief Operating Officer – Certified™ executive certification modules (4) and ‘My COO-C Strategy & Execution Playbook™’

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

Who Should Apply

Executives, Senior Management and C-Suite Corporate Officers such as All COOs, CEOs, CFOs, CIOs, CTOs, CMOs, CHROs, Chief Program Officers (ChPROs); Chief Project Control Officers (ChPCOs), Chief Quality Officers (CQOs); Chief Risk Officers (CROs); Chief Project Officers; Chief Procurement Officers; Chief Compliance Officers, VPs, Directors, Senior Financial Managers, Head Finance Leads, Financial Managers, Senior Project Managers, Senior Project Control Officers (PCOs), Senior Project Engineers, Senior Engineers, Senior Project Managers, Senior Program Managers, Head of Finance Department; Principal Cost Engineers, Senior Cost Analysts, Senior Cost Engineers, Senior Cost Control Engineers, Senior Earned Value Management (EVM) Leads, and Senior Risk Officers

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

Participant Mix

PAST PARTICIPANTS: The COO-C™ executive certification program has been strategically designed for executives who manage operations, management and technical professionals, processes and systems at the Executive level.

Past participants have included:

·         CEOs

·         COOs

·         CFOs

·         CIOs

·         CTOs

·         VP of Finance

·         Senior Finance Managers

·         Senior Operations Managers

·         Senior Financial Analysts

·         Corporate strategists

·         Program Managers

·         Systems Engineers

·         Senior Project managers

·         Experienced individual contributors and staff professionals

·         Other key members of Executive Financial Management leadership and management departments

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

Testimonials

For testimonials, please visit: www.c-suiteinstitute.com/testimonials-page

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

Faculty

ALL THE C-SUITE INSTITUTE™ INSTRUCTORS:

(1) Have Graduate Degrees and Master Of Science (MS) Degrees in Finance, Economics, Project Management or MS Degree in Engineering (Electrical, Civil, Computer, Mechanical, Aeronautical, Software), Or Computer Science Or Technology Management or Information Technology Or Master of Business Administration (MBA); or Phd or DSc in related field
(2) Have Over Fifteen Years of Executive Management Experience in Industry Or Government Or Both;
(3) Have Taught or Teach In Graduate Degree Programs In Accredited Universities in the USA and abroad

TRADEMARKS:

COO-C™ Chief Operating Officer – Certified™ is a trademark of C-Suite Institute™ in the USA and internationally and fully protected under International Trademark and Copyrights Treaties and Laws among nations

The Role Of The Chief Operating Officer (COO)

 What is a ‘Chief Operating Officer – COO’

The chief operating officer (COO) is tasked with the day-to-day administration and operation of the business.

Typically, the COO reports directly to the Chief Executive Officer (CEO) and is considered second in command.

In some corporations, the COO is also known as the Executive Vice President of Operations.

 BREAKING DOWN ‘Chief Operating Officer – COO’

The COO’s focus is executing the company’s business plans according to its business model, while a CEO is concerned with long-term business goals and the outlook for a company. In other words, the CEO makes the plans, and the COO implements them. For instance, a CEO might look at declining market share and decide the company needs to focus more on quality control and enhancing its reputation among its customer base. Similarly, to improve quality control, the COO might instruct the human resources department to hire more quality control personnel. The COO determines the specifics needed to carry out the CEO’s general plan. Where the CEO may be more involved with a long-term focus, the COO is more often responsible for daily, quarterly or other periodic measured results. He also is involved with strategic planning for the future and may establish initiatives to expand the organization’s product lines or markets.

The Role of the COO

The COO’s particular role often depends on the strengths and preferences of the company’s CEO. Sometimes a COO handles all the internal affairs of a company, while the CEO focuses on being the public face of the company. In this case, a COO may be responsible for production, research and development, and even marketing. In many cases, the COO is chosen specifically to complement the strengths and weaknesses of the CEO or to work in tandem with a CEO who prefers to function as a member of a leadership team.

COOs are often responsible for the execution of the strategies proposed by the CEO and the rest of the company’s senior leadership. In an entrepreneurial situation, the COO may have significantly more experience than the CEO, who may be the founder of the company. In this circumstance, the COO is expected to mentor the CEO during the early stages of the business’s development.

If you were to categorize the common day-to-day responsibilities of a COO, they would include overseeing the company’s day-to-day operations, daily communication with the CEO, creating operations strategies and policies, communicating operational strategies to employees, building employee alignment with company goals (and vice versa), and overseeing human resource development.

As mentioned earlier, the main reason why a COO’s daily responsibilities can be so ambiguous is that the COO’s role is primarily based on the needs of the CEO. With this in mind, there are generally seven types of COOs who fill specific needs within a company:

• The executor who leads the implementation of company strategies.

• The change agent who is hired to lead a new initiative, such as organizational change.

• The mentor who is brought on board to mentor younger or newer team members within the company.

• An “MVP” COO who was promoted internally to ensure they were not lost to a competitor.

The other common types of COOs are hired specifically to help the CEO:

• The COO who is brought on to be a foil or complement to the CEO.

• The partner COO who is brought on to be the right-hand man to the CEO.

• The heir apparent who becomes the COO specifically to learn from the CEO, with the expectation that he will eventually take the position of CEO.

Chief Operating Officer VS. Chief Operations Officer

In general, the chief executive officer (CEO) is thought of as the highest-ranking officer in a company, while the president is second-in-command. However, in corporate governance and corporate structure, many variations can take place, so the roles of both CEO and the president may be different across various firms. For this reason, it is important to have a general understanding of the corporate environment and how different positions ultimately fit into it.

First of all, the board of directors is elected by the shareholders of a company and is usually composed of both inside directors (senior officers of the company) and outside directors (individuals independent of the company). The board establishes corporate management policies and decides on “big picture” corporate issues. Because the board is in charge of executive functions, and the CEO is responsible for integrating company policy into day-to-day operations, the CEO often (but not always) fills the role of chairman of the board.

Another factor that determines the positions of company officers is corporate structure. For example, in a corporation with many different businesses (a conglomerate), there may be one CEO who oversees many presidents, each running a different business of the conglomerate and reporting to the one CEO. In a company with subsidiaries, it would be unusual to have one person carry out the roles of both CEO and president. Presidents often hold the position of chief operating officer (COO).

Keep in mind these are examples of general scenarios. The CEO is not always the chairman of the board, and the president is not always the COO. The ultimate goal of corporate governance is to effectively manage the relationship between owners and decision-makers and increase shareholder value.

The Qualifications to Be a COO

A COO typically has extensive experience within the field in which the company operates and has often worked their way up through the ranks for at least 15 years. He or she has both business and management expertise as well as extensive experience in the practices, policies, and procedures of their field. Because she is responsible for directing the work of the departments and personnel below her, the COO position typically requires strong leadership skills as well as the ability to approach situations from a creative point of view. COOs typically have at least a bachelor’s degree and often have other relevant degrees and certifications as well.

Chief operating officer (from Wikipedia.org)

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Chief operating officer

Synonyms	COO

A chief operating officer (COO), also called a chief operations officer, is one of the highest-ranking executive positions in an organization, composing part of the “C-suite“. The COO is usually the second-in-command at the firm, especially if the highest-ranking executive is the chairperson and CEO. The COO is responsible for the daily operation of the company and its office building^[1] and routinely reports to the highest-ranking executive—usually the chief executive officer (CEO).^[2]

Responsibilities and similar titles[edit]

Unlike other C-suite positions, which tend to be defined according to commonly designated responsibilities across most companies, a COO’s job tends to be defined in relation to the specific CEO with whom they work, given the close working relationship of these two individuals.^[3]

The selection of a COO is similar in many ways to the selection of a vice president or chief of staff of the United States: power and responsibility structures vary in government and private regimes depending on the style and needs of the president or CEO. Thus, the COO role meets individual expectations and changes as leadership teams adjust.^[3]

The COO position is common in firms that are operationally intensive, such as airline and automotive industries.^[4]

President[edit]

In a similar vein to the COO, the title of corporate president as a separate position (as opposed to being combined with a “C-suite” designation, such as “president and CEO” or “president and COO”) is also loosely defined. The president is usually the legally recognized highest rank of corporate officer, ranking above the various vice presidents (including senior vice president and executive vice president), but on its own generally considered subordinate, in practice, to the CEO.

Lloyd E. Reuss was president of General Motors from 1990 to 1992, as the right-hand man of chairman and CEO Robert C. Stempel.^[5] Stempel insisted on naming Reuss as company president in charge of North American operations, the board reluctantly agreed but showed their displeasure by not giving Reuss the title of COO.^[6]

Richard D. Parsons was number two in the company hierarchy during his tenure as president of Time Warner from 1995 to 2001, but he had no authority over the operating divisions, and instead took on assignments at the behest of chairman and CEO Gerald Levin.^[7][8][9]

Michael Capellas was appointed president of Hewlett-Packard in order to ease its acquisition and integration of Compaq, where Capellas was previously chairman and CEO. Capellas ended up serving just six months as HP president before departing. His former role of president was not filled as the executives who reported to him then reported directly to the CEO.^[10][11]

In 2007, the investment banking firms of Bear Stearns and Morgan Stanley each had two presidents (Warren Spector and Alan Schwartz at Bear, Robert Scully and Zoe Cruz at Morgan) reporting to one CEO (who was also chairman of the board); each president was essentially a co-COO (despite the lack of title) overseeing half of the firm’s business divisions. Schwartz became sole president of Bear after Spector was ousted, and several months later assumed the position of CEO as well when James Cayne was forced to resign (Cayne remained chairman).

Tom Anselmi of Maple Leaf Sports & Entertainment was chief operating officer from 2004 until September 6, 2013. Between the departure of Richard Peddie and the hiring of Tim Leiweke for the posts of president and CEO, Anselmi added the title of president from September 4, 2012, to June 30, 2013, however he remained COO and did not receive the title of CEO.^[12]

Richard Fuld, the chairman and CEO of Lehman Brothers, had a succession of “number twos” under him, usually titled as president and chief operating officer. Chris Pettit was Fuld’s second-in-command for two decades until November 26, 1996, when he resigned as president and board member. Pettit lost a power struggle with his deputies (Steve Lessing, Tom Tucker, and Joseph M. Gregory) on March 15 that year that caused him to relinquish its COO title, likely brought about after the three men found about Pettit’s extramarital affairs, which violated Fuld’s unwritten rules on marriage and social etiquette. Bradley Jack and Joseph M. Gregory were appointed co-COOs in 2002, but Jack was demoted to the office of the chairman in May 2004 and departed in June 2005 with a severance package of $80 million, making Gregory the sole COO. While Fuld was considered the “face” of Lehman brothers, Gregory was in charge of day-to-day operations and he influenced culture to drive the bottom line.^[13] Gregory was demoted on June 12, 2008, and replaced as president and COO by Bart McDade, who had been serving as head of Equities, and McDade would see Lehman through bankruptcy.^[14][15]

Thomas W. LaSorda served as president and CEO of Chrysler from January 1, 2006, to August 5, 2007, while Chrysler was owned by Daimler-Benz. When Cerberus Capital bought majority control of Chrysler, Bob Nardelli was appointed chairman and CEO of Chrysler, while LaSorda became vice chairman and president. Despite the appointment of a second vice chairman and president, Jim Press, LaSorda stayed on.^[16][17] LaSorda’s titles as vice chairman and president officially stated that he was in charge of manufacturing, procurement and supply, employee relations, global business development and alliances. However, LaSorda’s actual role was to find a new partner or buyer for Chrysler, leading to speculation that Cerberus Capital was less interested in rebuilding the auto manufacturer than it was to turning profit though a leveraged buyout.^[18]

Research in Motion‘s corporate structure had more than one COO, including Jim Rowan as chief operating officer for global operations, and Thorsten Heins as COO of products and sales.^[19][20][21]

The Walt Disney Company has used the president and COO titles in varied ways for their number two executive. Ron W. Miller was president from 1978 to 1984, while serving additionally as CEO for 18 months from 1983 to 1984. Frank Wells was president from 1984 to 1994, where he reported to the board of directors and not chairman and CEO Michael Eisner. When Wells died in a helicopter crash,^[22] no replacement president was named as his duties were resumed by Eisner. Michael Ovitz was president from 1995 to 1997, being hired by Eisner and then dismissed not long afterwards. Bob Iger was president and COO from 2000 to 2005, when he succeeded Eisner as CEO. Thomas O. Staggs was COO from 2015 to 2016, during that time the senior executive team had a dual reporting structure to both Staggs and Iger; Staggs resigned after the board did not give him assurances that he would succeed as CEO.

Manulife has used the president and COO titles for separate roles. From June 5 until September 30, 2017, Rocco “Roy” Gori served as president where he oversaw Manulife’s global operating businesses, with his subordinates being the general managers of the Canadian, U.S., and Asia Divisions, and the chief investment officer. Gori reported to chief executive officer Donald Guloien before additionally assuming the title of CEO on October 1, 2017, upon Guloien’s retirement. Linda Mantia, the chief operating officer, reported to the president on corporate strategy while continuing to report to the CEO on all other matters including corporate development, Analytics, Technology, Marketing, Innovation, human resources, regulatory and public affairs, global resourcing and procurement, and the global program office.^[23]

At the World Bank, the president outranks the other executives including the CEO and chief economist.

Current situation[edit]

Most modern companies operate without a COO. For example, in 2007 almost 58% of Fortune 500 companies did not have a COO.^[24] In these instances the CEO either takes on more roles and responsibilities, or the roles traditionally assigned to the COO are carried out by sub C-suite executives. Although the number of COOs has been in decline for the past 10 years, there are reasons to anticipate an increased utilization of the position in the future, including:

• Companies are becoming larger and more complex, making it more difficult for one person alone to have total oversight over the whole organization.^[3]
• Companies are finding a strong relationship between firm performance and the presence of a COO.^[25]
• Companies are becoming more deliberate about CEO succession planning and will use the role to on-board and train successors.^[3]
• The increase in talent mobility means that the role will likely be used more often as a retention mechanism for key executives who are at risk of moving to a competitor.^[3]

Roles and functions[edit]

The role of the COO differs from industry to industry and from organization to organization. Some organizations function without a COO. Others may have two COOs, each assigned to oversee several business lines or divisions, such as Lehman Brothers from 2002 to 2004 when Bradley Jack and Joseph M. Gregory were the co-COOs.^[14] A COO could also be brought in from other organizations as a “fixer”, such as Daniel J. O’Neill who in 1999 joined Molson in that capacity.^[26]

In the manufacturing sector, the primary role of the COO is routinely one of operations management, meaning that the COO is responsible for the development, design, operation, and improvement of the systems that create and deliver the firm’s products. The COO is responsible for ensuring that business operations are efficient and effective and that the proper management of resources, distribution of goods and services to customers and analysis of queue systems is conducted.

Despite the functional diversity associated with the role of COO, there are some common functions the COOs usually perform:

• At the direction of the CEO and board of directors, marshalling limited resources to the most productive uses with the aim of creating maximum value for the company’s stakeholders
• Developing and cascading the organization’s strategy/mission statement to the lower-ranking staff, and implementing appropriate rewards/recognition and coaching or corrective practices to align personnel with company goals
• Planning by prioritizing customer, employee, and organizational requirements
• Maintaining and monitoring staffing, levels, knowledge-skills-attributes (KSA), expectations and motivation to fulfill organizational requirements
• Driving performance measures for the operation (including a consideration of efficiency versus effectiveness), often in the form of dashboards convenient for review of high level key indicators

COO as successor[edit]

Routinely in large organizations the COO will be the heir apparent to the CEO.^[27] Individuals may have worked their way (internally) up the company ladder before being named COO, or may have been recruited from an outside company. Either way, the position is used as a training and testing ground for the next CEO.

A 2003 Crist Associates study revealed that only 17% of companies that promote a COO to a CEO replace the COO within the next year.^[28]

An Accenture study found that approximately one in nine COOs moved into the CEO’s shoes within a year of their departure and that half of COOs see themselves as the “heir apparent.”^[29] COOs transitioning into the CEO role often face similar challenges including:

• Not being automatically granted the luxury of a diagnostic period. Given that they know the company, COOs turned CEOs are often expected to hit the ground running when in actuality they too need to enter diagnostic mode to fully understand their new role and to see the company from a new perspective.
• Finding time to manage a new key stakeholder: The board. Many COOs turned CEOs are often surprised how time-intensive managing the board of directors can be and must learn to incorporate this important responsibility into an already packed schedule.
• Being in the spotlight. COOs are used to having the luxury of working “behind the scenes.” As CEO, many are surprised to find they have become a “public” figure both inside and outside the organization and must learn how to manage this additional obligation.
• Recalibrating their image. Often COOs struggle not with the strategy portion of the job itself, but overcoming the perception of other stakeholders that they are an “execution” executive versus a “strategy” executive.^[29]. As a result, nearly 50% of the S&P 500 companies have opted to appoint a Chief Strategy Officer (CSO) to be a “mini CEO” and as peer to the COO.^[30]

According to researchers Miles and Bennett, just knowing these common pitfalls can help a COO “heir” better prepare for the transition, thereby avoiding them in totality or ensuring that at least they do not evolve into full derailers once they are in the CEO seat.^[29]

Relationship with a CEO[edit]

Because the COO is often responsible for serving as an information conduit to the CEO, it is essential that the relationship between COO and CEO be a positive one.^[31] Trust is the most important ingredient necessary for a CEO-COO relationship to thrive. The CEO must have full confidence that the COO is not making direct passes for their job, can get the work done, and shares their vision (rather than using their trusted spot and access to information to undermine the CEO’s strategy or implement his/her own vision). When a relationship built upon trust is created between the CEO and COO, firm performance is improved and shareholder results are strengthened. Seven strategies that are key to building trust in the CEO-COO relationship include:^[3][32]

• Communication—The CEO has to be comfortable sharing information with the COO and regularly communicating the strategy and any changes to it. Similarly, the COO has to be comfortable regularly providing status updates to the CEO. When communication breaks down, mistrust or misunderstanding is likely to mess up.
• Clear decision rights—The COO role appears to work the best when the roles and responsibilities of the COO have been clearly delineated ahead of time and the COO is allowed to make the final decision within pre-agreed upon scope.
• Lock on the backdoor—The CEO must not undermine the COO’s credibility by continually reversing decisions. When employees learn that they can get a different answer by going directly to the CEO as opposed to the COO, the COO role quickly becomes impotent.
• Sharing the spotlight—In effective CEO-COO relationships, both parties are comfortable with how much “credit” they receive for their work internally, externally, from the board of directors, and from each other.
• Fit between CEO and COO—The two individuals must respect each other and effectively partner together. This is not a partnership that can be forced.
• Fit Between the COO and the position—The selected COO must have the right credentials to carry out the purpose for which the COO role was created (which can include everything from operations expertise to change expertise to having a complementary skill set to the CEO).
• Transparency of succession expectations and timeline—Both parties must understand whether the COO desires the CEO job, whether the COO is in consideration for the top job, and what the timing might be for such a transition.

Relationship with board of directors[edit]

In addition to having a strong and trusting relationship with the CEO, the COO should also have an effective relationship with the board.^[33] A good relationship between COO and the board allows the board to better understand and independently judge a potential successor. A strong relationship between the board and the COO also offers the board an additional expert opinion on the health of the company, and status of key initiatives. It benefits the CEO to allow such a relationship to form because it reflects confidence and fosters transparency. It also reinforces that the CEO is capable of developing talent, and helps the CEO to retain the COO by further empowering the individual. A strong relationship benefits the COOs in that they are able to expand their experience as well as their professional network. Additionally, if they are looking to be the next CEO, it allows them to develop credibility with the board. Researchers advise the COO to go beyond simply presenting at board meetings, to ensure they are developing strong one-on-one relationships with each board director.^[33] Researchers^[who?] also urge the COO to develop his or her own voice, independent of the CEO.

Failure in the COO role[edit]

Any breakdown in trust between the CEO and COO can lead to failure. Additionally, the COO typically has to be a high-level leader who is comfortable being fully in charge. Many executives with the leadership skills necessary to be a top-level COO would prefer to be running their own organization as opposed to taking orders from a CEO. For COOs who are expecting to serve their time and be promoted to the top spot, their timelines for such a move can often be out of sync with the CEO’s, causing a breakdown in the relationship. COOs can also find themselves trapped into being labeled an “operations” person or a “number two” as opposed to being seen as a strategic and top-level leader by the board of directors, which causes some executives to steer clear of the position.^[3] Harry Levinson effectively summarized the challenges of the COO position: “The relationship between the chief executive officer and the chief operating officer in any organization is fraught with many psychological complexities. Perhaps it is the most difficult of all organizational working relationships because more than others, it is a balancing act on the threshold of power.”.^[2]

Experts and research[edit]

Nathan Bennett and Stephen A. Miles have researched the role of COOs.^[3] Their published works analyse the role and its effectiveness, classify the different types of COOs, and examine relationships between CEOs and COOs.^[32][33][34]

References[edit]

1. ^ “Chief Operating Officer – COO”. Investopedia. Retrieved 2011-02-08.
2. ^ Jump up to:^a b Levinson, Harry (1993), “Between CEO and COO”, Academy of Management Executive, 7 (2): 71–83, JSTOR 4165123
3. ^ Jump up to:^{a b c d e f g h} Miles, Stephen A.; Bennett, Nathan (2006), “Second in Command: The Misunderstood Role of the Chief Operating Officer”, Harvard Business Review, 84 (5): 70–79, PMID 16649699, retrieved 2011-09-24
4. ^ [1]
5. ^ “Lloyd and Mark Reuss: Father and Son – Generations of GM”. history.gmheritagecenter.com. Archived from the original on 2017-06-30. Retrieved 2017-03-02.
6. ^ Practice Archived November 2, 2013, at the Wayback Machine. Cg.org.cn. Retrieved on 2013-09-05.
7. ^ “Power Failure”. Vanity Fair. July 2002. Archived from the original on July 14, 2011.
8. ^ “Naomi Campbell Won’t Take ‘No’ for an Answer”. Observer. 2017-02-09. Retrieved 2017-03-02.
9. ^ “Anthony Bianco – Cover Stories”. www.ajbianco.com. Archived from the original on 2010-05-18. Retrieved 2017-03-02.
10. ^ Dignan, Larry (2002-11-12). “Capellas leaves HP | Networks”. silicon.com. Archived from the original on 2012-04-03. Retrieved 2011-12-17.
11. ^ “Guild Companies”. Itjungle.com. 2002-11-13. Archived from the original on 2012-03-25. Retrieved 2011-12-17.
12. ^ Cox, Damien (September 7, 2012). “Maple Leafs: New era of MLSE intrigue unfolding: Cox”. Toronto Star. Retrieved September 8, 2012.
13. ^ “Print Page”. nymag.com. Retrieved 2017-03-02.
14. ^ Jump up to:^a b Ward, Vicky (April 2010), “Lehman’s Desperate Housewives”, Vanity Fair, retrieved 2011-02-08
15. ^ Truell, Peter (November 27, 1996). “Pettit Resigns as President Of Lehman Brothers Firm”. The New York Times. NYTimes.com.
16. ^ “He led GM”s quality and lean manufacturing activities as a corporate VP”. The Detroit News. 2009-05-02. Archived from the original on 2013-01-22. Retrieved 2014-08-01.
17. ^ “The Cerberus Takeover of Chrysler”. Allpar.com. Retrieved 2014-08-01.
18. ^ “So long, LaSorda”. The Globe and Mail. Retrieved 2017-03-02.
19. ^ “Jim Balsillie resigns amid poor RIM results – Business – CBC News”. Cbc.ca. Retrieved 2014-08-01.
20. ^ Riley Kennysmith (2011-07-25). “Research In Motion Cuts 2,000 Jobs, Shuffles Upper Management”. Pulse2.com. Retrieved 2014-08-01.
21. ^ “Research In Motion Appoints Chief Operating Officer of Engineering and Manufacturing – Press Releases”. Press.blackberry.com. 2001-01-23. Retrieved 2014-08-01.
22. ^ “Frank Wells, Disney’s President, Is Killed in a Copter Crash at 62”. The New York Times. The Associated Press. 1994-04-05.
23. ^ “Manulife appoints Roy Gori as President”. www.newswire.ca.
24. ^ Gerut, Amanda (August 9, 2010), “COOs: A Vanishing Breed” (PDF), Agenda, archived from the original (PDF) on December 22, 2011, retrieved 2011-02-08
25. ^ Marcel, Jeremy J. (2009), “Why top management team characteristics matter when employing a chief operating officer: a strategic contingency perspective”, Strategic Management Journal, 30 (6): 647–658, doi:10.1002/smj.763
26. ^ Case Examining the Molson acquisition of Bavaria in Brazil, archived from the original on 2011-07-10, retrieved 2011-02-08
27. ^ Galbraith, Jay R. (October 15, 2009), “Where Have All the COOs Gone?”(PDF), Directorship, retrieved 2011-02-08^{[permanent dead link]}
28. ^ Martin, Justin (August–September 2003), “Rise of the New Breed: The age of the imperial CEO is waning. In its place, a crop of new CEOs – humble, team building, highly communicative – are rising” (PDF), Chief Executive, retrieved 2011-02-08^{[permanent dead link]}
29. ^ Jump up to:^a b c Miles, Stephen A.; Bennett, Nathan (June 2010), “Mastering the move from COO to CEO”, Outlook, retrieved 2011-02-08
30. ^ Menz, Markus; Scheef, Christine (2014). “Chief strategy officers: Contingency analysis of their presence in top management teams”. Strategic Management Journal. 35 (3): 461–471. doi:10.1002/smj.2104. ISSN 1097-0266.
31. ^ Bennett, Nathan; Nunes, Paul F. (2008), “Chief Operating Officers: Off to a fast start” (PDF), Outlook (3), archived from the original (PDF) on 2011-09-27, retrieved 2011-02-08
32. ^ Jump up to:^a b Bennett, Nathan; Miles, Stephen A. (June 13, 2006), “The COO: Friend or Foe?”, ChiefExecutive.net, archived from the original on August 2, 2010, retrieved February 8, 2011
33. ^ Jump up to:^a b c Bennett, Nathan; Miles, Stephen A. (November 30, 2007), “Making the Most of COOs”, MIT Sloan Management Review, archived from the original on July 21, 2010, retrieved 2011-02-08
34. ^ Miles, Stephen A.; Nathan Bennett (2006). Riding shotgun: the role of the COO. Stanford, Calif: Stanford Business Books. ISBN 978-0-8047-5166-7.

Further reading[edit]

• Bennett, Nathan; Stephen A. Miles (2006). Riding Shotgun: The Role of the COO. Stanford, California: Stanford University Press. ISBN 978-0-8047-5166-7.

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