CFOs fill void left by decline in COOs

The percentage of S&P and Fortune 500 companies that have a sitting COO are declining, providing validation to the shifting role of CFOs, according to The Wall Street Journal.

Since 2000, the percentage of S&P and Fortune 500 companies with a sitting COO has fallen from 48 percent to about 30 percent, according to WSJ, which cited the 2016 Crist|Kolder Volatility Report.

Peter Crist, chairman for Crist|Kolder, told WSJ the COO's role is diminishing, as CFOs transition into more strategic roles focused on operations as well as financial planning.

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