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A Research Study on Chief Operating Officers from Around the Globe 2 | COO Circle Research Overview Table of Contents

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A Research Study on Chief Operating Officers from Around the Globe 2 | COO Circle Research Overview Table of Contents Succeeding in a Critical and Complex Role: A Research Study on Chief Operating Officers from Around the Globe 2 | COO Circle Research Overview Table of Contents Foreword ....................................................................................................5 Why this study now? .....................................................................................6 Executive Summary .......................................................................... 8 - Key findings ............................................................................... 8 - Key implications ......................................................................... 8 - For current and aspiring COOs ...........................................................................8 - For directors, CEOs and executive search firms ........................ 8 - For businesses .............................................................................................8 Shedding light on an elusive role ......................................................................9 - Understanding perceptions of the role: COO reporting relationships across regions and industries ......................................10 - COO direct reports across regions ................................................................10 - COO direct reports across industries .............................................................11 - Understanding perceptions of the role: COOs’ views ..............................................11 - COO perceptions of role focus ....................................................................11 - COO perceptions of needed knowledge and skills .............................................13 - COO perceptions of how they are evaluated ..................................................14 - Challenges today and tomorrow ......................................................................15 - The impact of cost cutting .........................................................................15 - Issues keeping COOs up at night ...................................................................15 - Changes in skills needed ............................................................................17 - Expectations about growth plans ..................................................................17 Research methodology ....................................................................................................19 - Respondents and research approach .......................................................................19 - A note about the sample sizes .............................................................................19 - A closer look at our COO respondents ...........................................................................21 About Accenture ....................................................................................................24 About the Accenture COO Circle and C-Suite Networks ...................................................24 About the Authors ....................................................................................................24 COO Circle Research Overview | 3 4 | COO Circle Research Overview Foreword A foreword by Sander van ‘t more than US$500 million. This initial boards, CEOs and executive search firms Noordende, Group Chief Executive- research into the often neglected role of who seek their next “second in command,” Management Consulting, Accenture, the COO identified a number of missed and for businesses and organizations and Executive Sponsor of the opportunities that stem from incomplete around the world who want to extract support provided to the position. COOs more value from their COO. Accenture COO Circle often face poorly defined responsibilities, Perhaps one of the least understood experience a haphazard on-boarding We hope this research continues to roles in business today is that of the process, or confront limited opportunities stimulate the global discussion and chief operating officer. There are about to network with peers both inside and debate of the unique value of the as many interpretations of the role as outside the company. Surmounting these COO, and furthers a more complete there are COOs. Are they just the CEO- hurdles is key to unlocking the potential understanding of the critical and in-waiting? Are they the hands-on effectiveness of the COO. complex role of the COO. manager overseeing everything from technology and human resources, to supply chains and procurement? Or are Expanding the understanding of they the agile, adaptable troubleshooter, the COO role globally brought in to cut costs, determine where In 2012, we completed a much more investment is needed, and secure the extensive research study to better best talent to remain competitive in an understand the role of the COO outside increasingly dynamic and often volatile of the U.S. Accenture commissioned a global business environment? first-of-its-kind study involving 220 COOs from North America, Europe, Africa, Latin The varied and evolving role of the America, Greater China and India who COO directly reflects the complexities held COO positions at organizations or of running a modern global organization. at divisions with at least US$1 billion in With organizations having to contend annual revenue. with ever-changing competitors and Each COO shared their views on how ecosystems, increasing pressure from the role is changing, what kinds of skills investors, adapting to new governmental it take to be successful in the role, regulations, and shifting economic and how can COOs best help their and trading power, strategic bets organizations survive and thrive in have never been more critical. challenging economic times. By investigating the differences and The COO Circle and our initial COO similarities among COOs from various research study on U.S. CEOs regions and industries, we wanted In 2008, Accenture founded the COO to better understand the value and Sander van ‘t Noordende, Circle to better understand the challenges challenges associated with the COO role. Group Chief Executive-Management and concerns of the highest ranking Consulting, Accenture, and Executive operating executives in the corporate and This Accenture report, based on original Sponsor of the Accenture COO Circle public sectors. In addition to providing research led by Dr. Nathan Bennett, a unique forum for select COOs and Professor of Management at the Robinson equivalent operating executives to College of Business at Georgia State interact with their peers in a thought- University, builds on a collective body provoking exchange of ideas, we also of COO research and is just one of many launched a research study conducted activities Accenture has undertaken to with 52 COOs from large U.S.-based further the understanding of the role for companies with annual revenues of current and aspiring COOs, for directors of COO Circle Research Overview | 5 Why this study now? Accenture initiated this research study This Accenture research report builds on now because in the past five years, the collective body of COO research. It is one attention invested in understanding the of many activities Accenture is undertaking role of the chief operating officer (COO) to understand more about the executives has focused mostly on North American we have come to know as the “guardians of companies. And because we know that strategy in action.” Over time, this research corporate governance looks different in will provide thoughtful and rigorous different parts of the world, we wanted to responses to questions that are central to investigate those differences and consider understanding the value and challenges their implications for chief operating associated with the COO role, such as: officers everywhere. • How is the role changing and what forces are shaping those changes? As just one example, in Europe, chief executive officers (CEOs) and board chair • What forms of value are COOs generating roles are typically occupied by separate for companies around the world and in individuals. In North America, the two different industries? What forms of value roles have often been filled by the same should they be generating? person. We also wanted to see how • How can businesses best leverage the value changes in corporate governance may provided by their COO? be affecting the COO role. For instance, • What kinds of skills, knowledge and some North American companies have workplace relationships does it take to begun separating the CEO and board succeed in the role? chair positions to meet more stringent governance rules defined in the wake • How can COOs best support their of corporate scandals and economic organizations’ strategic objectives, including volatility.1 growth and globalization plans? • How can COOs best help their companies survive and thrive in tough economic times? 1Nathan Bennett, Stephen A. Miles and Walter E. Shill, “Don’t Squeeze the COO Out of the C-Suite,” Accenture, 2012. 6 | COO Circle Research Overview COO Circle Research Overview | 7 Executive summary Our study findings uncovered For directors of boards, CEOs and In the other regions examined in our several themes that may have executive search firms seeking study, the relatively constrained definition implications for COOs as well as to recruit a promising “second in of the COO role could be putting command” for an organization— companies at a disadvantage in their other key stakeholders. But one one who could later advance into target markets. Specifically,
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