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When you think of an organisation, you might typically think of having just one person in the driving seat who makes all the decisions and leads the business forwards.
However, with many challenges facing leaders in today’s changeable climate – think talent shortages, cost-of-living and cost-of-doing business crises and more – could it be the case that two heads are better than one for the CEO position?
Research has suggested that this may be so, highlighting the benefits reaped from having a duo in charge. According to a recent study published in the Harvard Business Review (HBR) – which was summarised in a LinkedIn News article – 87 firms with co-chiefs generated above-average shareholder returns, with 60% outperforming their relevant stock indexes. These strong figures could prompt other organisations to look towards the co-CEO model.
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M&S & Netflix
While the study polled some companies with this model in place – and highlighted several success indicators – a number of high-profile and successful businesses have already put two people in charge of a company. In fact, earlier this year, Grapevine Leaders reported that M&S’ outgoing CEO, Steve Row, was to be replaced by Stuart Machin and Katie Bickerstaffe, who will work together as part of the organisation’s leadership team.
