The corporate world is constantly evolving, and with that comes new challenges for businesses. One of the latest challenges facing businesses is the question of whether or not they can have two CEOs.
In short, yes, you can have two CEOs, but it is not very common. In most cases, companies are started with just one CEO. In some cases, when founders are less complementary or more alike in their strengths and weaknesses, two “commercial” founders could share the CEO role.
Remember that the second CEO must have the authority to make similar decisions to the CEO, even if the CEO is not present. This is not a position for junior executives – the second CEO could also be the CEO of another company.
Netflix has two CEOs. Reed Hastings, the co-founder of Netflix, oversees Netflix’s streaming services while Ted Sarandos manages Netflix’s content. Warby Parker also has co-CEOs. The co-founders of the company went to college together. Some companies have had co-CEOs over the years, but it is not often. Fewer than 100 of the 2,200 companies listed in the Russell 1000 and S&P 1200 between 1996 and 2020 were led by co-chief executives.
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