When Berry Bros & Rudd announced in May that chief executive Emma Fox would step down this summer, the 328-year-old wine and spirits merchant didn't look for a single replacement. Instead, chief financial officer Emily Rae and UK managing director Rob Symington will take over together as co-CEOs – the latest mainstream business to conclude that one corner office can more-than comfortably hold two chairs.
The traditional image of leadership is a lonely one. But as high-growth businesses face increasingly volatile markets and challenges on a range of fronts, a growing number of founder-led scaleups are challenging the norm by opting for co-CEOs. Rather than being a recipe for division, splitting the top job can be an effective way to de-risk a business and accelerate growth, according to Marta Sjögren, who is co-CEO of climate-tech scaleup Paebbl, which transforms captured CO₂ into carbon-negative building materials.
