Key facts
- Two COOs who became CEOs shared advice on managing the transition.
- Dan Peyovich of Dycom Industries stressed alignment and accountability.
- Dennis Woodside of Freshworks highlighted readiness and founder support.
- Peyovich led Dycom Industries' acquisition of Power Solutions within months of becoming CEO.
- Woodside oversaw a company acquisition, product line shutdowns, and a reduction in force after becoming Freshworks CEO.
The transition from Chief Operating Officer (COO) to Chief Executive Officer (CEO) is often challenging, as the skills required for internal operations may not directly translate to external leadership. Two COOs who successfully made this transition shared their experiences and advice at the Fortune COO Summit. Dan Peyovich, who became CEO of Dycom Industries in late 2024 after four years as COO, emphasized the importance of alignment with the previous CEO and accountability for results. He noted that within months of taking over, Dycom committed nearly $2 billion to acquire Power Solutions, expanding its reach into data centers. Dennis Woodside joined Freshworks as president in 2022 with the understanding he would become CEO, which occurred in May 2024. He highlighted the necessity of readiness and the value of founder support during the transition. Woodside's tenure as CEO has involved acquiring a company, discontinuing product lines, implementing a reduction in force, and refocusing the organization, with former founder Girish Mathrubootham remaining on the board as executive chair to support the AI roadmap.