Freakonomics Radio

559. Are Two C.E.O.s Better Than One?

70 snips
Sep 28, 2023
Mark Feigen, a CEO advisor, and Jim Balsillie, former co-CEO of BlackBerry, explore the intriguing dynamics of co-CEOs. They discuss how dual leadership can enhance organizational performance and decision-making, featuring successes and failures from real-world examples. The conversation touches on the benefits of collaboration and the potential challenges like conflict and indecisiveness. Insights from programming practices also reveal interesting parallels, prompting a reevaluation of traditional hierarchies in the corporate landscape.
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INSIGHT

Co-CEO Performance

  • Co-CEOs are rare in public companies, according to a study by Mark Feigen.
  • They delivered higher shareholder returns, suggesting potential benefits despite the rarity.
ANECDOTE

Co-CEO Failures Under Pressure

  • Chipotle's co-CEOs, Steve Ells and Monty Moran, stopped speaking after an E. coli crisis.
  • Blackberry's co-CEOs, Mike Lazaridis and Jim Balsillie, also split under pressure from competitors.
ANECDOTE

Blackberry's Co-CEO Story

  • Jim Balsillie and Mike Lazaridis, former co-CEOs of Blackberry, initially thrived due to shared office and constant communication.
  • Their close partnership eventually deteriorated due to differing strategic visions regarding hardware versus software focus.
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