Hire a COO for their ability to integrate across departments and communicate with everyone, not for expertise in finance, IT, or sales. The role demands flexibility and orchestration as the company scales, not deep knowledge in any single function.
Chapters
A COO can't do everything, and hiring a new second in command isn't going to replace subject matter expertise. A COO might focus on finance, it, sales and marketing operations, or business areas, but as the company scales, those areas still need their own heads. The exact configuration depends on the individual bandwidth and the maturity of the company. A COO leading seven business areas can be an outstanding marketer, but they'll still likely need to appoint a head of marketing, too. Subject matter expertise is less important in a COO than an adaptable personality and the ability to talk to department areas and call the plays without sounding like a moron.