What makes a CEO and COO partnership truly effective? How can business leaders know when it’s time for their second-in-command to move on?
In The Second in Command, Cameron Herold explores the dynamics of successful CEO and COO relationships. He shares insights on building trust, fostering friendship, and recognizing when partnerships need to evolve.
Keep reading to discover practical strategies for creating and maintaining strong leadership partnerships that drive business success.
Building Rapport Between the CEO and COO
According to Herold, for the business to run as smoothly as possible, the CEO and COO should have an intimate understanding of each other and should share mutual trust. This will help the CEO overcome issues and present a united front to others in the company. To do this, the CEO must build not only a solid working relationship but an intimate friendship as well. If the COO’s personality intentionally complements the CEO’s, this shouldn’t be too difficult.
To start off, the CEO and the COO should discuss their backgrounds and histories—for example, hardships they’ve faced, accomplishments they’re proud of, their fears, their family life and childhood, and so on. They also should take personality tests and share their profiles with each other.
(Shortform note: In The Advantage, Lencioni argues that fostering personal relationships in the workplace to build mutual trust is critical because it creates a safe environment—a crucial factor in organizational health, which determines whether an organization will thrive. However, sharing personal histories and personalities are only two of the ways to build a safe environment. Lencioni also recommends discussing the fundamental attribution error—an inherent human tendency to make excuses for our mistakes while unfairly attributing others’ mistakes to their personality. Keeping this in mind will help coworkers avoid making the fundamental attribution error that will result in healthier communication and more respect among counterparts.)
To further promote friendship between the CEO and the COO, Herold recommends regularly meeting up outside of work just to hang out. This isn’t to talk about work but just to have fun and get to know each other better.
(Shortform note: Hanging out in person, as Herold recommends, isn’t always possible if the CEO and COO live in different places or the company is fully remote. To build a close relationship despite these difficulties, consider conducting virtual hangout sessions—happy hour video chats, virtual storytelling sessions, or even hangouts where you teach each other fun skills you have like knitting or making your favorite dish.)
When to Let Go
While hiring a COO is a long-term commitment, Herold says that, in most companies, there will come a time when the current COO is no longer a fit. People and companies are always growing and evolving, and it’s not guaranteed that your COO will still align with the vision you have for the company after a few years.
(Shortform note: Research shows that COOs aren’t permanent—in fact, having a COO last more than a few years is rather uncommon. Thirty-three percent of COOs last for only one or two years, 18% last three or four years, another 18% last five to seven years, and only 11% stick with the company in that same role for over 11 years.)
If your COO no longer shares your vision for the company, no longer feels passionate about the goal, or the type of COO and roles you need them to fill changes as your future vision evolves, it’s time to move on. Herold says you’ll know when this time comes because your COO will stop enjoying the work as much and will feel more overwhelmed and stressed by their duties.
(Shortform note: Once you decide it’s time for the COO to move on, experts say there are a few more steps you need to take to ensure a smooth goodbye. For example, you must discuss the decision with the board—explain your decision and make sure they support it, discuss the COO’s separation package and get the board’s approval, and solidify a good reputation for yourself and the COO by focusing on the matter of misalignment rather than on the COO’s shortcomings.)
