Main corporations together with Spotify, Oracle and Comcast have appointed co-CEOs this 12 months, drawing recent consideration to a long-scrutinized company technique that goals to pair twin leaders with complementary experience to tackle the highest job. However Emma Walmsley, chief govt officer of GSK, isn’t bought on the management mannequin, which is predicated, partially, on the concept that the CEO position has grown too huge—even unsustainable—for one particular person to deal with.
“I think there are few things more obnoxious in life than CEOs complaining about how hard their life is,” Emma Walmsley advised Fortune senior editor Claire Zillman throughout Fortune’s Most Highly effective Girls Summit on Tuesday.
Walmsley has served as CEO at GSK, a British drugmaker, since April 2017 and can step down in on the finish of the 12 months. Below Walmsley, GSK spun off its client well being care enterprise Haleon, gained regulatory approval for its pioneering RSV vaccine, and expanded its HIV therapy portfolio. Nonetheless, she has didn’t win over traders.
The 56-year-old acknowledged {that a} CEO position is demanding—personally and professionally—and that those that assume the highest job should be ready “from a resilience and stamina point of view.” She stated she took 38 journeys to the U.S. final 12 months and is at the moment on a swing that can take her to seven cities on three continents, all inside ten days.
However that’s a part of the accountability that comes with being the pinnacle of an organization, Walmsley stated, advising CEO hopefuls to present the place “everything you possibly have.”
“It’s not about being a superhero,” Walmsley stated of the chief govt place. “I don’t know if it’s about sharing the job.”
Spotify is the newest firm to undertake the co-CEO mannequin. In September, it appointed two leaders to switch Daniel Ek in 2026. Earlier this 12 months, Comcast stated that sitting CEO Brian Roberts might be joined by Michael Cavanagh, former president, as a co-CEO in January. And only a week earlier than that, Oracle restructured to a co-CEO mannequin as nicely.
The co-CEO construction is uncommon however analysis suggests it could possibly work. Co-CEOs generated common annual shareholder returns of 9.5% whereas in cost, increased than the 6.9% single-CEO common, in response to a Harvard Enterprise Assessment research of 87 public corporations with co-CEOs between 1996 and 2020. Some companies within the research skilled productiveness will increase of greater than 12%. The common co-CEO tenure was about 5 years, in keeping with sole CEOs. CEO advisor Marc Feigen led the research and beforehand advised Fortune the mannequin’s success relies on three components: CEOs working along with separate areas of experience, upholding shared values and a transparent methodology of battle decision.
Walmsley stated the co-CEO mannequin may work if an organization can create the fitting “cocktail” and mixture. However she stated CEOs should “be prepared to stand up and absorb all of the pressure” and look past themselves. “It’s not about you; get your ego out the way,” she stated. “It’s about the team, it’s about the company, and it’s about the people that you serve.”
