coCEOs

Co-CEOs, or joint chief executive officers, refer to a governance arrangement in which two individuals share the top executive responsibility for a company. The split can be equal or weighted, and duties may be allocated by function (for example, one focusing on external affairs and strategy, the other on operations and internal management) or rotated by time or project. In many cases, the arrangement is formalized by the board of directors and accompanied by a defined leadership plan and compensation structure.

The model aims to combine complementary skills, broaden networks, and provide continuity during leadership transitions. It can also allow a company to pursue diverse strategic priorities or operate across different markets with shared oversight. However, co-CEO structures can introduce challenges, including potential conflicts over strategy, unclear authority, slower decision-making, and difficulties in presenting a single strategic voice to employees, investors, and partners. Success often hinges on clear delineation of responsibilities, aligned vision, strong communication, and effective governance mechanisms, such as a clearly defined decision rights framework and board oversight.

Notable historical instances include Whole Foods Market, which appointed John Mackey and Walter Robb as co-CEOs from 2010 to 2013 during a leadership transition, and Chipotle Mexican Grill, which operated with co-CEOs Steve Ells and Monty Moran for a period around 2009–2010. The co-CEO model remains relatively uncommon at large, mature companies and is more frequently seen in startups, founder transitions, or situations requiring parallel leadership capabilities.