Co-CEO model: The leadership model behind the success of some tech companies

THERE'S no question that technology companies have been impactful in society. What's interesting is that their success and impact can be attributed to more than just technology but also their management and leadership approaches.

- WESLEY DIPHOKO

The leadership model applied in some tech companies is becoming a subject worthy of attention.

Recently, Yoco announced a leadership transition that also highlighted a move towards a co-CEO model. Two of the company co-founders were appointed as co-CEOs.

Both Lungisa Matshoba and Bradley Wattrus while the former CEO, Katlego Maphai, will also remain in some way. It’s an interesting move by one of the most successful technology startups in South Africa. It's a move that will be studied for many years as this company grows. Yoco is not alone in adopting the co-CEO model.

Spotify founder and CEO Daniel Ek also recently announced that he will step down from his leadership role after nearly two decades. Ek will serve as the company’s executive chairman, and two former co-presidents—Gustav Söderström and Alex Norström—will share the role as co-CEOs. Sharing the top position at a major company is still a relatively uncommon practice. But more technology companies are testing the arrangement.

Recently, Comcast announced that a second CEO, Mike Cavanagh, will be stepping in come January to share the role with Brian Roberts. Oracle also recently made a similar announcement. Meanwhile, Netflix has been led by two CEOs for more than five years, the current partnership being Ted Sarandos and Greg Peters.