What is a COO?
A Chief Operating Officer (COO) is a high-ranking executive responsible for overseeing the day-to-day operations of a company. The COO is often the second-in-command after the CEO and plays a crucial role in implementing the company’s strategies and ensuring operational efficiency.
Roles and Responsibilities
1. Strategic Planning: The COO works closely with the CEO to develop and execute the company’s strategic goals and objectives.
2. Operational Oversight: The COO is responsible for managing the company’s daily operations, including production, logistics, and supply chain management.
3. Performance Monitoring: The COO monitors key performance indicators to ensure the company is meeting its goals and targets.
Examples of COOs
- Sheryl Sandberg – COO of Facebook
- Tim Cook – COO of Apple
- Marissa Mayer – Former COO of Yahoo
Case Studies
One notable case is the appointment of Tim Cook as COO of Apple in 2007. Cook played a crucial role in managing Apple’s supply chain and operations, which contributed to the company’s success under Steve Jobs’ leadership.
Statistics
According to a study by Spencer Stuart, the average tenure of a COO in a Fortune 500 company is around 4.7 years.