The Chief Operating Officer is one of the highest executives in the company. They ensure that the long-term goals of an organization are attained. They also must ensure that the workers adhere to the company’s rules and regulations. But can a COO be suspended for regulatory breaches? Let us find out.
What Are the Roles of a COO?
Depending on the Chief Executive Officer’s preference, the Chief Operating Officer will always take care of the internal affairs of an organization. This is because the CEO, in all organizations, will always act as the public face of the company, which means they handle all external affairs.
When hiring a chief operating officer, most organizations will always look for someone with skillsets, similar to the current CEO. Some companies also require that a chief operating officer has more practical experience compared to the sitting CEO.
The chief operating officer is the executor, who ensures that the company’s objectives are perfectly executed. They also act as the charge agents that ensure that new initiatives are embraced.
What If There Are Breaches?
Now that we have seen that a chief operating officer takes care of the company’s internal affairs, we want to find out their fate in case there are any breaches. To begin with, a good officer must ensure that the workers clearly understand the organization’s terms of operation. These are the rules and regulations put in place to help the company achieve the bottom line.
Therefore, they must work closely with all departments to ensure that no complications arise. The officer must also be able to identify the warning signs and take the right measures ahead of time. If some workers are not familiar with the terms of a given contract, or the organizational standards, the chief operating officer must ensure that they get informed as soon as possible.
Since the Chief Executive Officer is at the top of the chain of command, s/he will take care of an instance of breaches. But the disciplinary actions vary from one company to another. Suppose it has been stated in the rules and regulations that the chief operating officer is suspended in a regulatory breach. In that case, the CEO must play by the rules and suspend the chief operating officer.
It is important to note that the CEO will not independently decide on the best disciplinary action that needs to be taken. Instead, the top leaders will sit down together and clearly state the best action for each mistake made in various departments in the organization. Therefore, to answer the question, it is possible that the chief operating officer will be suspended for any breaches.
The Bottom Line
According to Mark Jones, the chief operating officer is the person that helps the organization achieve both its short-term and long-term goals. While doing that, they must ensure that the company’s rules and regulations are adhered to. But if they fail to comply, they might get suspended. You can learn more about the topic by getting in touch with us.