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COOs are making a comeback

Harmony Internal - McKinsey

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Edited by Stephanie d’Arc Taylor
Editor, Southern California

Behind every great CEO, there’s a great COO. After a few years out of vogue—in 2018, only 32 percent of Fortune 500 companies had one—the COO is back in a big, bold way. Nearly half of Fortune 500 companies in the energy and financial sectors have COOs in 2022. And with CEOs increasingly serving as the external face of companies, COOs now more than ever are the internal ballast for organizations, especially as they face unprecedented operational disruptions. In a new article, McKinsey managing partner Darryl Piasecki reports on conversations with several current and former COOs on the skills they view as critical to the position. The old proficiencies, he writes, are no longer enough. In order to face the uncertainties of 2023 and beyond, COOs need to evolve their skillsets to prioritize resilience and agility.

Stepping up: What COOs will need to succeed in 2023 and beyond

COOs are increasingly important to corporations, but what skills will they need to perform at their best? Business leaders weigh in.

Top 5 proficiencies

Quote of the day

“We’re thirsty for interaction with others. We’re not meant to be isolated. Organizations should think of getting together in person as a dimmer switch, not an on/off switch.”

—McKinsey senior partner Bill Schaninger on quiet quitting and engaging employees in a recent episode of McKinsey Talks Talent

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:20 - 1 Nov 2022

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