Significantly, two chief executives can also keep each other grounded. In the words of Chip Kaye, for 17 years a co-CEO of the private equity firm Warburg Pincus , the power-sharing arrangement helps leaders “keep their egos in check.
Note that not all the organizations we studied in depth have actually given their top leaders the title of “co-CEO.” Indeed, in the business world at large, the co-CEO relationship is far more common than the title—many companies are effectively run by co-CEOs, even if they’re not called that. For example, Jefferies Financial Group has been jointly led for 20 years by a president and a CEO.
The model fails when, as Insight Partners’ Horing puts it, “one wants to run the whole thing.” That was the case at the Carlyle Group, a global private-equity fund. There former co-CEO Kewsong Lee outlasted his counterpart, Glenn Youngkin.
Some companies have found it effective to toggle back and forth between the two models. Workday, for example, had co-CEOs from 2009 to 2014, then shifted to a sole chief executive, and in 2020 announced that a duo would again share the reins.Many people are leery of co-CEO arrangements because of a few disaster stories. But the occasional misfire does not mean that the leadership model itself is flawed. After all, having a single CEO is no guarantee of success either.
Given the pace of change and disruption we’re likely to experience in the years ahead, we can expect more and more companies to try installing co-CEOs—and we hope the guidance we have provided here will help them succeed. Agile organizations are particularly good at managing ambiguity and blurred boundaries, so they may find that the co-CEO model is especially easy for them to implement and sustain.
No you just need to consider CEOs that are actually intelligent
Co-CEO’s sounds like a way of raising the compliments for Co-founders… it’s not a bad idea but… the fear is how much it’s possibly going to affect the company’s balance
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