Chief Operating Officer (COO)

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Definition of 'Chief Operating Officer (COO)'

The Chief Operating Officer (COO) is a senior executive who oversees the daily operations of a company. The COO reports directly to the CEO and is responsible for ensuring that the company's operations are running smoothly and efficiently.

The COO's responsibilities can vary depending on the size and industry of the company. However, some common responsibilities include:

* Developing and implementing strategic plans for the company
* Managing the company's budget
* Overseeing the company's day-to-day operations
* Hiring and firing employees
* Ensuring that the company is in compliance with all applicable laws and regulations
* Representing the company to the public and other stakeholders

The COO is a key member of the senior management team and plays a vital role in the success of the company. The COO must be a highly skilled and experienced executive with a strong understanding of business operations. They must also be able to work effectively with the CEO and other members of the senior management team.

The COO is often seen as the second-in-command of the company and is a potential successor to the CEO. In some cases, the COO may also be responsible for overseeing the company's marketing, sales, and customer service functions.

The COO position is a challenging and rewarding one. The COO has the opportunity to make a significant impact on the success of the company and to help shape its future.

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