The Chief Operating Officer (COO) role is a proven stepping stone to becoming a CEO, with 27% of Fortune 500 CEOs in 2021 having previously served as COOs. This critical role ensures operational expertise, directly contributing to a 20% increase in revenue growth for companies that leverage COOs effectively. Approximately 40% of Fortune 500 and S&P 500 companies have a COO, underscoring its strategic importance in leadership. Additionally, women now occupy 25% of COO roles in Fortune 500 companies, reflecting the growing momentum toward gender diversity in executive positions. The COO position is pivotal in shaping an organization's leadership pipeline and fostering inclusive growth.
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