Is Sharing the Top Job the Future of Leadership?
I’ve been following the trend of co-CEOs, and I have to say, I’m both intrigued and skeptical. On the one hand, it makes sense to share the workload and responsibility with someone who can complement your skills and perspective. But on the other hand, I worry about the potential for confusion, conflict, and a lack of clear direction.
Take Pippa Begg and Jennifer Sundberg, co-CEOs of Board Intelligence, for example. They’ve been running the company together for 16 years, and it seems to be working for them. They’ve grown the business, employed 200 staff, and landed big-name clients like Nationwide and Rolls-Royce. But can this model be replicated in other companies?
The Pros of Co-CEOs
One of the main advantages of having co-CEOs is that it allows for a more balanced approach to decision-making. With two brains instead of one, you’re less likely to fall into the trap of hubris and more likely to consider different perspectives. It also means that you can divide the workload and take time out when you need it, which is essential for avoiding burnout.
Leadership coach Audrey Hametner has seen firsthand how co-CEOs can play to their strengths and weaknesses. She gives the example of a company where one co-CEO focused on marketing and product, while the other handled finance and regulatory affairs. It’s a sensible approach, but it requires a high degree of trust and communication between the two CEOs.
The Dark Side of Co-CEOs
But what about the potential downsides? One of the main concerns is that co-CEOs can create confusion and uncertainty among employees, customers, and investors. Who’s in charge, and who makes the final decisions? It can also lead to power struggles and conflicts between the two CEOs, which can be detrimental to the company’s overall performance.
And let’s not forget about the issue of accountability. When there are two CEOs, it can be difficult to determine who’s responsible for the company’s successes and failures. It’s a problem that can be exacerbated by the fact that co-CEOs often have different management styles and priorities.
Can Co-CEOs Really Work?
So, can the co-CEO model really work? I think it’s possible, but it requires a deep understanding of each other’s strengths, weaknesses, and work styles. It also demands a high degree of trust, communication, and flexibility. And, of course, it helps if you have a clear division of labor and a well-defined decision-making process.
Begg and Sundberg seem to have made it work, but they’re the exception rather than the rule. For every successful co-CEO partnership, there are likely to be many more that fail. It’s a risky strategy, but one that can pay off if done correctly.
Conclusion (or Not)
I’m not going to conclude that co-CEOs are the future of leadership or that they’re a recipe for disaster. The truth is, it’s complicated. What works for one company may not work for another. But what I do know is that the co-CEO model is worth exploring, especially in today’s fast-paced and rapidly changing business environment.
So, if you’re considering a co-CEO model for your company, here’s my advice: take your time, do your research, and make sure you and your partner are on the same page. It’s not an easy journey, but it could be worth it in the end.
