Let’s study if “ is the Executive Vice President Higher Than COO?”. As well as their respective duties to know more about their difference.
Is the Executive Vice President Higher Than COO?
Is the Executive Vice President Higher Than COO? Yes. The Executive Vp is higher than the COO. The Executive Vice President and COO are two different executive positions and they have different duties and different salaries.
The Executive Vice President is a second-in-command of a company and he or she is the highest-ranking executive who works at the direction of the Chairman of the Board. He or she is responsible for supervising all other officers as well as employees in a company. He or she makes sure that all departments in the company work effectively and efficiently to make sure that the company’s objective can be met.
The Executive Vice President is considered as a first among equals. Also, he or she has similar job scope with the Chief Operating Officer (COO). But there is a big difference between them.
The COO usually handles day-to-day work within a company. While the Executive Vice President manages and helps other executives to handle their duties.
They also work closely with senior management. To help them develop a long-term strategy for a company’s growth.
In addition, they also take care of Executive Office duties. Such as meeting board members, shareholders, managers, investors, etc. As well as working with legal counsels, keeping good relationships with government officials, keeping good relationships with media representatives, etc.
The salary of an Executive Vice President is higher than that of a COO. Because he or she has more work scope than a COO.
What Is an Executive Vice President?
An executive vice president (EVP) is the second-highest-ranking position in a company just below the president or chairman position. It is an appointed position. So, this means it is not elected by employees or shareholders as occurs in a corporation or limited liability company (LLC).
An executive vice president usually heads one department within the overall structure of the organization.
In medium to large companies, EVP’s typically report directly to the CEO and their main responsibilities include:
1) Supervising employees in one department or division
2) Developing business plans for future products and services to meet corporate objectives
3) Coordinating activities with other departments/divisions within the organization
4) Ensuring that sales goals are met by individual sales reps
5) Overseeing budgets for department/division activities
6) Working with the CEO to implement overall corporate policies, procedures, and objectives
What Is a COO?
The COO is the second-highest-ranking executive in a company. The COO is responsible for managing all day-to-day activities in a company. He or she helps the company’s board of directors to meet its overall objective.
The COO usually has more work scope than an Executive Vice President. But the Executive Vice President generally has more power and responsibility than a COO. That is why an Executive Vice President is higher than a COO.
Their main responsibilities include:
1. Managing day-to-day operations of the company to make sure that the company’s objective will be met.
2. Making sure that all employees within the company are working effectively and efficiently.
3. Making sure that the company’s budget is being used effectively and efficiently.
4. Making sure that the company’s current business plan is effective and efficient.
5. Ensuring that the company’s employees are performing their job duties well.