CoCEO

A co-CEO, or co-chief executive officer, is a leadership arrangement in which two individuals share the responsibilities of the chief executive role. The structure may feature equal authority or a designated split of duties, with both reporting to the board.

In practice, two leaders may divide areas such as external relations and operations, but most critical strategic decisions require joint agreement. The arrangement commonly relies on a formal charter or governance document, clear performance metrics, defined decision rights, and a process for resolving disputes. Boards appoint co-CEOs and specify terms, compensation, and evaluation criteria.

Advantages of a co-CEO model include greater continuity during transitions or absences, complementary skills and networks, and the potential for faster decision-making when responsibilities are clearly partitioned. It can also provide redundancy and resilience in leadership.

Challenges include role ambiguity and duplication of effort, potential conflicts between co-CEOs that affect execution, and confusion for employees and investors. Decision-making can be slower if consensus is required, and performance assessment and succession planning may become more complex under a dual leadership structure.

Adoption and considerations: Co-CEO models are more common in startups, rapidly growing firms, and during periods of leadership transition. Success depends on aligned vision, strong governance, clear delineation of authority, and a credible plan for eventual consolidation of leadership or explicit continued dual leadership.