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Oracle to Netflix: Co-CEO structures gain traction across industries
A number of large firms in the US and abroad have embraced the co-CEO approach, sharing responsibilities between two leaders.
A number of large firms like Oracle have embraced the co-CEO approach, sharing responsibilities between two leaders.
Enterprise software giant Oracle has joined the growing list of companies adopting a dual-leadership model, announcing on Monday that Clay Magouyrk and Mike Sicilia will serve as co-chief executives. The pair replace Safra Catz, who steps down after 11 years as CEO to become vice chair of the board.
Although the dominant practice in corporate governance is to have a single chief executive, a number of large firms in the US and abroad have embraced the co-CEO approach, sharing responsibilities between two leaders. As per Reuters, here are some companies following a co-CEO structure.
Netflix The streaming service moved to a co-CEO structure in July 2020, when Ted Sarandos was elevated alongside Reed Hastings. When Hastings stepped aside in January 2023, Greg Peters was appointed to serve jointly with Sarandos. Under the division of responsibilities, Sarandos leads content, marketing and legal affairs, while Peters oversees technology, product development and operations.
KKR Private equity powerhouse KKR named co-presidents Scott Nuttall and Joseph Bae as co-CEOs in 2021, succeeding founders Henry Kravis and George Roberts. Bae focuses on private markets and expansion in Asia, while Nuttall manages credit, capital markets, insurance and the overall balance sheet.
Lennar US homebuilder Lennar appointed Stuart Miller as co-CEO alongside Jon Jaffe after Rick Beckwitt stepped down. Both executives now shape the company’s strategy, oversee homebuilding operations and lead merger and acquisition initiatives.
Gensler Architecture and design firm Gensler has also embraced shared leadership. Elizabeth Brink and Jordan Goldstein were appointed co-CEOs in 2024, succeeding Andy Cohen and Diane Hoskins. Together, they manage day-to-day operations of the global firm.
Seres Therapeutics In July, the drug developer named Thomas Desrosier and Marella Thorell as co-CEOs, replacing Eric Shaff, who remains on the board as a director.
SharpLink Gaming Online marketing group SharpLink appointed Joseph Chalom as co-CEO in July, joining co-founder Rob Phythian. The company has also attracted attention for raising funds to acquire cryptocurrency holdings as part of its treasury strategy.
IREN Bitcoin mining company IREN is run by brothers Daniel and Will Roberts, who serve jointly as co-CEOs.
Monster Beverage Energy drinks maker Monster Beverage adopted the dual model in January 2021, when Hilton Schlosberg was named co-CEO alongside Rodney Sacks.
The co-CEO structure remains unconventional, but examples from Silicon Valley to Wall Street suggest it is becoming an increasingly viable way to balance responsibilities in complex, fast-moving industries.
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