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Account LoginCo-CEOs in the S&P 500 and Russell 3000: Rare but Strategically Persistent
In a new CompanyIQ® Report by MyLogIQ, an in-depth analysis of Co-CEO leadership structures across the S&P 500 and Russell 3000 from 2015 to 2024 reveals that, while still uncommon, the model has proven to be a durable governance strategy for select companies.
A Rare Structure With Strategic Intent
Only 1.2% of S&P 500 companies and 0.84% of Russell 3000 companies have adopted a co-CEO structure over the past decade. Despite these low frequencies, the use of co-CEOs has been persistent in specific strategic contexts such as scaling operations, founder transitions, and multi-line business models.
Peaks During Times of Complexity
The data shows that 2020–2021 marked the peak years for co-CEO adoption. This surge coincided with the COVID-19 pandemic—a period characterized by heightened operational complexity, requiring adaptive leadership structures.
- In the S&P 500, the number of companies with co-CEOs peaked at nine.
- In the R3000, the number reached 33 in 2021.
Long-Term Viability: A Decade and Counting
Some companies have sustained co-CEO models for extended periods.
- In the S&P 500, one company maintained co-CEOs for all 10 years, and another for 7 years.
- In the R3000, three companies sustained co-CEOs for 10 years, with several others maintaining the model for 7 to 9 years.
Notable long-duration examples include KKR (10 years), Synopsys (7 years), Globe Life (6 years), Salesforce (6 years), Lennar (5 years), Monster Beverage (5 years), and Netflix (5 years)