In today’s high-pressure corporate world, the demands on a modern CEO have reached what some call “close to unsustainable.” The rise of co-CEO structures—once viewed as risky or temporary—is now being reconsidered as a powerful way to share responsibility, enhance decision-making, and sustain leadership effectiveness in a rapidly evolving global economy.

At AlixPartners, a 2,500-person global consulting firm, co-CEOs David Garfield and Rob Hornby are redefining what shared leadership looks like. The duo, promoted together in February 2025, have worked side by side for 14 years—an essential foundation for the trust and chemistry needed in such a partnership. “Our decisions are better as a result of collaborating on them,” Garfield told Fortune, highlighting that their complementary expertise strengthens outcomes.

Based in New York, Garfield brings decades of experience in corporate strategy and shareholder value creation, while Hornby—based in the UK—specializes in AI, digital transformation, and operational leadership. Their geographic distance has become a strategic advantage, ensuring 20 hours of leadership coverage across global time zones.

Despite the model’s advantages, co-CEO arrangements remain rare. Data from Esgauge shows only eight co-CEOs currently serving across the Russell 3000, with just 17 at the peak in 2023. The reluctance stems from potential pitfalls: power struggles, unclear decision rights, and interpersonal tension. “It’s very much like a marriage,” said Shawn Cole, president of Cowen Partners. “It takes a lot of communication and maturity to make it work.”

Experts like Egon Zehnder’s Chuck Gray agree that while sharing power is challenging, the traditional CEO model is increasingly impractical. “We’ve reached a point where the CEO job is almost impossible for one human to have,” he explained. The emotional and operational load has CEOs reconsidering whether two might truly be better than one.

The key, according to leadership advisors, lies in structure and trust—distinct responsibilities, aligned values, and open communication. AlixPartners’ Garfield and Hornby embody this approach through what they call “pre-planned forgiveness.” When decisions must be made independently, each leader trusts the other’s judgment without friction. “We’re co-responsible for everything,” Hornby said. “But that doesn’t mean we’re equally involved in everything.”

Their success hinges on active listening, mutual respect, and shared purpose—qualities increasingly seen as essential in the new era of executive leadership. As companies like Comcast, Oracle, and Spotify experiment with co-CEO structures, the corporate world may be witnessing a shift toward collaboration at the very top.

As Susan Sandlund of Pearl Meyer aptly summarizes: “With today’s pace of change, having co-CEOs can make sense—if the company has a strong business case and the leaders have the right chemistry. It’s not the norm, but it might be the future.”