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Freakonomics Radio

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

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.
50:35

Podcast summary created with Snipd AI

Quick takeaways

  • Co-CEO pairs in large public companies outperform solo CEOs, delivering higher annual shareholder returns, suggesting the co-CEO model's potential in the business landscape.
  • Co-CEOs face challenges and risks but when the fit is right and they have complementary skills, the benefits of shared leadership outweigh the risks.

Deep dives

The Benefits of Co-CEOs in Large Public Companies

A study conducted by CEO advisor Mark Feigen found that large public companies with co-CEOs outperformed those with solo CEOs. The co-CEO pairs in the study delivered annual shareholder returns nearly 40% higher than solo CEOs. While the finding is not entirely robust, it suggests that the co-CEO model deserves consideration in today's complex business landscape. The ability to share responsibilities, make collaborative decisions, and have a partner for support and guidance can lead to improved performance and decision making.

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