Chipotle founder Steve Ells, left, and Monty Moran were co-CEOs until Moran resigned in 2016. Ells stepped down from the role in 2017.Having dual CEOs is more common in countries like Germany, said Bower, where "collective management is a tradition of sorts." German company Deutsche Bank had two CEOs until 2016.
For example, having two CEOs of a small business, like online eyewear retailer Warby Parker's Neil Blumenthal and David Gilboa, could help grow the company by splitting major responsibilities, according to Zenger. But it could also create problems with clients who may be confused about who to consult about a major decision.
In 2008, for instance, media company Martha Stewart Living Omnimedia named Wenda Harris Millard and Robin Marino as dual CEOs. But the arrangement dissolved in less than a year,Despite the risks, Bower thinks that the US may be gradually moving toward a leadership culture more akin to Germany's, in which co-CEOs would not be such a rarity.
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