The Rise of Co-CEOs: A Bold Solution to Leadership Burnout?
In a world where corporate leaders are often glorified for their relentless drive, a surprising trend is emerging: more CEOs are choosing to share the top job. But here's where it gets controversial—is this a sign of weakness, or a revolutionary approach to sustainable leadership? Let’s dive into why this model is gaining traction and what it means for the future of business.
For nearly 16 years, Pippa Begg and Jennifer Sundberg co-led Board Intelligence, a company that provides critical analysis and services for corporate boards. Today, the firm boasts 200 employees and high-profile clients like Nationwide, Rolls-Royce, and Reckitt. Begg describes their partnership as a perfect balance of 'yin and yang,' emphasizing, 'Decisions are better made with two brains rather than one—it keeps hubris in check.' Their success is no isolated incident. According to MyLogIQ, the number of co-CEO arrangements in the Russell 3000 group has more than doubled from 11 in 2015 to 24 in 2024. Giants like Oracle, Comcast, and Spotify joined the trend in 2024, while Netflix has embraced this model since 2020.
But why now? The pressures of modern leadership are staggering. CEOs at the UK’s largest firms earn, on average, 122 times the salary of the average full-time worker. Yet, the perks come with a price. A 2024 survey by ICEO revealed that 56% of top executives felt burnt out. The co-CEO model offers a solution by dividing responsibility, accountability, and the emotional burden between two individuals. Leadership coach Audrey Hametner points out that co-CEOs can take breaks that solo leaders often forgo. She recalls a client who hadn’t taken a vacation in five years but finally enjoyed a family holiday after finding a co-CEO partner.
And this is the part most people miss—co-CEOs can lean into their strengths. Hametner shares an example where one co-CEO focused on marketing and product development, while the other handled finance, legal, and regulatory matters. 'One might be a big-picture thinker, while the other thrives on details,' she explains. This division not only enhances efficiency but also allows leaders to spend more time with their families—a luxury 60% of CEOs feel they lack, according to Russell Reynolds.
For Begg, the co-CEO model was a game-changer during her maternity leaves. She took three leaves of six months each in five years, returning to a four-day workweek each time. Sundberg also took two leaves during this period. 'Without this structure, the trade-off would have been too great for the business or our personal lives,' Begg reflects. This contrasts sharply with the 71% of women in leadership who take less than six months of maternity leave, fearing job insecurity. The co-CEO model not only preserved their careers but also challenged the status quo.
The benefits extend beyond maternity leave. Dhruv Amin, co-founder and co-CEO of Anything, a startup revolutionizing app creation, took two paternity leaves of three weeks each in 2024 and 2025. 'The structure gives us permission to be human without everything falling apart,' he says. Similarly, Denise Johansson, co-CEO of Enfuce, took three weeks off when her father passed away suddenly. Her partner, Monika Liikamaa, stepped in seamlessly, allowing Johansson to grieve and manage her inherited responsibilities.
But is this model too good to be true? While it’s gaining popularity, it’s not without challenges. Companies like Salesforce, SAP, and Marks and Spencer experimented with co-CEOs in the early 2020s, but the arrangements lasted no more than two years. Tierney Remick of Korn Ferry notes that co-CEOs work best in independent companies with leaders who have a pre-existing relationship. Without this foundation, power struggles, misaligned visions, and organizational confusion can arise. 'Establishing a partnership while driving strategy is incredibly difficult if the leaders don’t know each other,' she warns.
Despite these challenges, the co-CEO model is increasingly seen as a succession planning tool. With a shrinking pipeline of 'ready-now' CEOs, boards are exploring ways to develop high-potential leaders. 'It’s about accelerating growth in a market filled with ambiguity,' Remick adds.
For Begg, her co-CEO journey ended in 2024 when Board Intelligence acquired private equity backers, leading Sundberg to step down. Now a solo CEO, Begg admits she has less time for family, prompting her husband to leave his job and take on more domestic responsibilities. 'It’s still unusual for a man to say he’s only available between 10 a.m. and 3 p.m.,' she notes, highlighting the societal norms that persist.
So, is the co-CEO model the future of leadership, or just a passing trend? It’s clear that it offers a unique solution to burnout, work-life balance, and succession planning. But it also raises questions about organizational dynamics and long-term sustainability. What do you think? Is sharing the top job a sign of strength or a recipe for confusion? Let’s debate in the comments!
