A Chief Operating Officer (COO) is a senior executive responsible for managing and overseeing the daily administrative and operational functions of a company. This person is usually the second-highest-ranking executive in an organization and is part of top management, reporting directly to the Chief Executive Officer (CEO). The COO's responsibilities may vary depending on the operational structure and needs of the company, as well as the industry in which it operates. These duties may include supervising the company's daily business operations, working closely with department heads and supervisors to support the daily activities of employees, and ensuring that the company meets its goals and objectives.
To be successful in this role, a COO must have extensive experience in various facets of a company's operations. The salary of a COO varies depending on their area of expertise, level of experience, education, certifications, and other factors. Senior management positions, including those of executive director and chief operating officer, are often highly sought after in business organizations. In many organization charts, a new executive position known as chief compliance officer (CCO) appears in response to government demands to comply with complex rules and regulations.
Depending on the size and type of organization, executive vice-presidents and division heads would also be part of the senior management team. The relative importance of these positions varies depending on the type of organization they lead. For example, Richard Fuld, president and CEO of Lehman Brothers, had a succession of numbers two under his leadership, usually as president and chief operating officer. Research in Motion's corporate structure had more than one chief operating officer, including Jim Rowan as director of global operations and Thorsten Heins as director of product operations and sales.
The role of a Chief Operating Officer is essential for any organization that wants to succeed. They are responsible for ensuring that all operations run smoothly and efficiently while meeting all goals and objectives set by the company. With their experience and expertise, COOs can help organizations reach their full potential.