"A few days earlier, on Sept 29, Comcast said that its sitting CEO Brian Roberts will be joined by Michael Cavanagh, former president, in January. (The arrangement is being read as part of a succession plan.) And at Oracle a week before, ex-CEO Safra Catz moved into the vice-chair role, and was replaced by Clay Magouyrk, former head of Oracle Cloud Infrastructure, and Mike Sicilia, who previously ran Oracle Industries."
"The trio of announcements was remarkable, and points to a micro trend: leaders sharing the corner office, a practice previously more common for private equity firms and various outliers, like Netflix. It's also notable that all the members of the new gang of co-CEOs are men.This isn't a big surprise: Men dominate C-suites and the CEO job in corporate America."
Daniel Ek will step down as CEO of Spotify in the new year, with Gustav Söderström and Alex Norström named co-CEOs. Comcast and Oracle recently adopted co-CEO or shared leadership arrangements, signaling a micro trend of leaders sharing the corner office. All newly named co-CEOs in these announcements are men, reflecting male dominance of C-suites and CEO roles in corporate America. Doubling top titles does not necessarily increase female representation: mixed-gender co-CEO pairs remain exceedingly rare, and female co-CEOs at large firms are rarer than women running companies solo. Among Fortune 500 companies, only 11% are led by women.
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