Why are more bosses sharing the top job?
Summary
More companies are using a co-CEO structure, where two people share the top executive role. This approach has grown from 11 companies in 2015 to 24 in 2024 in the Russell 3000 group. Co-CEOs help divide responsibilities, preventing burnout and allowing each to focus on their strengths.Key Facts
- Board Intelligence has had co-CEOs Jennifer Sundberg and Pippa Begg leading the company.
- The number of companies with co-CEOs increased from 11 in 2015 to 24 in 2024 in the U.S.'s biggest public companies.
- Major firms such as Oracle, Comcast, and Spotify appointed co-CEOs in 2024.
- Top executives face burnout; 56% reported feeling burnt out in 2024.
- Co-CEO roles can help executives take more personal time, like vacations or maternity leaves.
- A study highlights that 60% of CEOs spend too little time with their families.
- A co-CEO setup allows each leader to play to their personal strengths and divide tasks efficiently.
- Female CEOs often take minimal maternity leave; co-CEO roles support extended maternity leave without job risks.
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