Post by Anup Srivastava

Why do firms appoint co-CEOs? What does this even mean? Doesn't it violate the President Harry Truman’s desk sign “The Buck Stops Here?” JPMorgan Chase today announced that Doug Petno and Troy Rohrbaugh willl work as co-presidents of the bank. We wrote about this topic in California Management Review. "The Co-CEO Model: Addressing the Needs of Dynamic Business Landscape." We particularly emphasized that it works well in finance industry, given the diverse set of competencies required to run a modern bank. https://lnkd.in/g-jam4_r We argued that the co-CEO model can create value in complex, fast-changing businesses, but only under specific conditions. Shared leadership works best when co-CEOs bring complementary skills, have clearly divided responsibilities, trust each other, and operate within strong governance and conflict-resolution mechanisms. Examples from Netflix, Oracle, KKR, Warburg Pincus, and Vontobel show how the model can support succession, geographic or functional specialization, and innovation. Failures at Deutsche Bank, Carlyle, and SAP highlight risks: power struggles, weak cultural acceptance, slow decisions, and crisis ambiguity. The model is useful, but not a universal replacement for single-CEO leadership. Coauthored with Sriniwas Mahapatro David Vogel Haskayne School of Business University of Calgary Canadian Academic Accounting Association American Accounting Association EAA - European Accounting Association #leadership #ceo #finance #cpa #cfa #banking J.P. Morgan