The yellow‐orange boratabenzene complex Cb*Co(3,5‐Me2C5H3BNMe2) (1) (Cb* = C4Me4) was readily obtained from [Cb*Co(NCMe)3]PF6 and Li(TMEDA)(3,5‐Me2C5H3BNMe2). Methanolysis of 1 afforded Cb*Co(3,5‐Me2C5H3BOMe) (2). Complex 2 reacted with MeLi and with BCl3 to give the B‐methyl analogue 3 and the B‐chloro compound 4, respectively. The chloro compound 4 reacted with iBu2AlH, TlF, and LiSnMe3 to afford the B‐hydrido derivative 5, the B‐fluoro complex 6, and the B‐(trimethylstannyl) compound 7, respectively. A single‐crystal structure determination of 7 gave an Sn−B bond length of 2.236(5) Å. The B−O−B‐linked dinuclear complex [(C4Me4)Co(3,5‐Me2C5H3B)]2O (8) was also characterized structurally. The amino compound 1 underwent an unprecedented quaternization with iodomethane to produce [Cb*Co(3,5‐Me2C5H3BNMe3)]I (10) which possesses a borabenzene−trimethylamine ligand. Compound 10 is the first borabenzene complex of a metal outside the chromium group. When treated with Bu4NCN in CH2Cl2 nucleophilic substitution of the NMe3 group took place to give the B−CN derivative 11 which is the first B‐cyanoboratabenzene complex.