It’s typically been seen as a one-man job, but these female leaders are demonstrating the advantages of dynamic duos.
Co-CEOs are rare—especially by choice. Think about it: You climb your way to the top of the ladder, the highest-ranking person in a company, only to share the spotlight and decision making power with someone else? For reasons owing to bravado and business management styles, one can’t blame an executive for rejecting the idea. of 87 public companies led by co-CEOs found that almost 60 percent were more profitable than peer organizations with one person in the top spot.
As an MBA student at Northwestern University in the 2010s, Densborn was a Splendid Spoon fan, grateful that she could get a wholesome meal while working late at night. She decided to become an investor, then joined as vice president of finance and insights in 2018. Densborn rose through the ranks before her promotion to co-CEO in January 2021.
Centeno and Densborn are passionate about helping women lead at work and at home and say it takes some creativity to succeed at both. The duo realized they had the opportunity to create a system that worked for themselves and their families—and would inspire their team to follow suit. Shan-Lyn Ma cofounded Zola in 2013 and has since raised $150 million in venture capital and hired more than 200 employees for her modern wedding-planning company. Earlier this year, she appointed Rachel Jarrett, a former co-worker at Gilt Groupe, as co-CEO.
To increase retention, the leaders must work together to share the responsibilities, not both work the same hours and intensity of a solo CEO, says Abraham. “There’s an opportunity for organizations to structure work in a way that allows for a true job-sharing model with very clear definitions and expectations of what that will look like,” she says. Splitting responsibilities allows for a more collaborative leadership style, something women typically excel at.
Some leaders are convinced of the downsides. After launching Pink Moon in 2020, the wellness brand’s Lin Chen and Ava Lichauco chose to forgo the model. Chen, CEO, started the business and in 2022 brought on Lichauco as a cofounder and COO, recognizing that Lichauco had a finance background that would complement Chen’s marketing chops. They argue that the co-CEO model can be difficult for marketing, as consumers want to feel connected to the leader of their go-to retail brands.
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