(Reuters) -Enterprise software maker Oracle on Monday named insiders Clay Magouyrk and Mike Sicilia as co-CEOs, replacing Safra Catz, who was named vice chair of the board after 11 years at the helm.
Growing Trend: More Companies Embrace Co-CEO Leadership Models
(Reuters) -Enterprise software maker Oracle on Monday named insiders Clay Magouyrk and Mike Sicilia as co-CEOs, replacing Safra Catz, who was named vice chair of the board after 11 years at the helm.
Although the standard practice is to have a single chief executive, there are a handful of companies on Wall Street and abroad that follow the dual-leadership structure.
Here are some:
NETFLIX
The streaming giant transitioned to a dual CEO model in July 2020 when Ted Sarandos was promoted to the top job alongside then-CEO Reed Hastings.
In January 2023, Hastings stepped down, and Greg Peters was promoted to join Sarandos.
Sarandos leads content, marketing and legal affairs, while Peters focuses on technology, product development and operations.
KKR
The private equity firm appointed co-presidents Scott Nuttall and Joseph Bae as co-CEOs in 2021, succeeding the company's billionaire co-founders Henry Kravis and George Roberts.
Bae focuses on private markets and Asia expansion, while Nuttall leads on credit, capital markets, insurance and the firm's overall balance sheet.
Lennar
The U.S. homebuilder's current chief executives are Stuart Miller and Jon Jaffe. Miller was appointed as co-CEO to join Jaffe when Rick Beckwitt decided to step down.
Both executives shape the company's strategy, overseeing homebuilding operations and leading initiatives like mergers and acquisitions.
Gensler
Architecture and design firm Gensler is led by Elizabeth Brink and Jordan Goldstein, both of whom were appointed in 2024, succeeding the previous pair Andy Cohen and Diane Hoskins.
Brink and Goldstein share responsibilities of day-to-day operations.
Seres Therapeutics
The drug developer in July appointed Thomas Desrosier and Marella Thorell as co-CEOs, taking over from Eric Shaff.
Shaff remains in the company as a director.
SharpLink Gaming
The online marketing company appointed Joseph Chalom as co-CEO in July alongside Rob Phythian, who co-founded the company in 2019.
SharpLink has been raising funds to acquire cryptocurrencies, including ether, to work as a crypto treasury vehicle, mimicking the playbook of Michael Saylor's Strategy.
IREN
Bitcoin miner IREN is run by co-founders Daniel Roberts and Will Roberts. The brothers serve as co-CEOs.
Monster Beverage
The energy drinks maker in January 2021 named Hilton Schlosberg as co-CEO alongside Rodney Sacks.
(Reporting by Zaheer Kachwala, Kritika Lamba and Shashwat Chauhan in Bengaluru; Editing by Sahal Muhammed)
