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 sharing 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 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 part of a broader trend: 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 ranks in 2024, while Netflix has embraced this model since 2020.
But why the shift? CEOs are among the highest-paid professionals—earning 122 times the average UK worker's salary—yet the pressure is immense. 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. Leadership coach Audrey Hametner points out that co-CEOs can take breaks without fear of the company collapsing. She shares the story of a CEO who hadn’t taken a holiday in five years until finding a co-CEO partner. 'It allows leaders to play to their strengths,' Hametner explains, citing examples where one co-CEO focuses on marketing and product development while the other handles finance and regulatory matters.
And this is the part most people miss—the co-CEO model isn’t just about workload; it’s about reclaiming personal lives. A Russell Reynolds study found that 60% of CEOs feel they spend too little time with their families. Begg, for instance, took three maternity leaves of six months each within five years—a rarity for CEOs. She credits her partnership with Sundberg for making this possible, stating, 'Without the co-CEO structure, the trade-off would have been too great for both the business and our families.' Sundberg also took two maternity leaves during this period, defying the norm where 71% of women in leadership take less than six months off for fear of jeopardizing their careers.
Is this model a game-changer for working parents? 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 in 2024. Her partner, Monika Liikamaa, stepped in seamlessly, allowing Johansson to grieve and handle personal matters. With six children between them, they coordinate to ensure family moments are prioritized while the company thrives.
But is this model too good to be true? While it’s gaining popularity, it’s not without challenges. Tierney Remick of Korn Ferry notes that co-CEOs work best in independent companies with leaders who already know each other. Without that foundation, power struggles, misaligned visions, and organizational confusion can arise. 'Establishing a partnership while driving the business is difficult if the leaders are strangers,' she warns. 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.
So, is the co-CEO model the future of leadership, or just a passing trend? Begg’s journey ended in 2024 when Board Intelligence acquired private equity backers, leading Sundberg to step down. Now a sole CEO, Begg admits she has less time for family, prompting her husband to leave his job and take on more domestic responsibilities. 'It still raises eyebrows when he says he’s only available between 10 a.m. and 3 p.m.,' she notes, highlighting societal expectations.
What do you think? Is the co-CEO model a sustainable solution to leadership burnout, or does it introduce more problems than it solves? Could it revolutionize work-life balance, especially for parents in top roles? Share your thoughts in the comments—let’s spark a conversation that could shape the future of leadership.
