This article was originally published in the Business Insider.
Several major companies—including Spotify, Comcast, and Oracle—are embracing the co-CEO model, a leadership structure where two executives share the top role. While only about 1.2% of firms in the Russell 3000 index currently use this setup, experts believe it may become more common as businesses face rapid technological shifts, especially due to AI.
Rick Wargo, Managing Partner at Boyden, sees potential in the model, saying, “It is an arrow that more boards, I think, will keep in their quiver.” Research supports this view: companies with co-CEOs have historically outperformed their single-leader counterparts in shareholder returns.
However, the model isn’t without challenges. Success depends on clearly defined roles, strong communication, and strategic alignment. Without these, companies risk confusion and power struggles. Examples like Netflix and Salesforce show how the model can work well, while others like Chipotle highlight its limitations.
You can read the full article here.
