Two CEOs, One Company

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It’s Thursday, Future Party. Yesterday, iconic conservationist and beloved wildlife advocate Jane Goodall passed away at 91. While her influence touched every corner of environmental protection, her lifelong devotion to understanding chimpanzees — brought to global attention through the National Geographic Society — forever changed our understanding of primates. Rest in peace, Jane.

More founders are now handing the reins to two CEOs when they step down, with 33 companies in the Russell 3000 Index operating under a dual-leadership structure.

The Big Picture: Being a CEO is a high-pressure role, and many founders are starting to believe no single person is ideally suited for the job (or full control of their “baby”). That mindset is fueling a rise in co-CEO structures, with founders often stepping up to an Executive Chairman role that allows them to remain the ultimate puppet master.

Behind The Shared Office: Are two CEOs better than one?

Final Duel: Picking co-CEOs is a bit like arranging a corporate marriage — chemistry and complementary skill sets are key. That’s why it’s tough to get right: most co-CEOs last only about half as long as their solo-CEO peers, according to data firm Equilar.

But there can be a lot of benefits when it works. A 2022 Harvard Business Review study found companies with co-CEOs delivered an average shareholder return of 9.5%, compared with 6.9% for solo leaders. So, maybe two heads are better than one.

Future Victor: With all eyes on Disney to see who will eventually succeed Bob Iger (for the second time), we wouldn’t be surprised if the company installs co-CEOs for a while to show them the ropes before his departure.

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As more employees return to the office, home offices are being rebranded and remodeled as spaces where they can pursue hobbies.

The Big Design: WFH transformed the housing market, sending people packing for cheaper regions where they could afford bigger homes — and design the perfect Zoom-era office. Now, with RTO mandates back in full swing (at least at the largest firms), many are realizing they have an extra room to play with.

Between The Walls: The man cave is getting a modern update.

Final Touch: Swapping out little-used home offices for something more playful may seem obvious, but it actually represents a major vibe shift for Americans. Despite all our productivity hacks and tech advancements, we’re still working a lot — and it’s left us with a serious hobby deficit. When the pandemic hit, so did burnout, and now everyone — not just Gen Z — is looking to reclaim some of that time for things they actually enjoy.

Prediction: Coupled with a growing desire to unplug from smartphones, stints in hobby rooms could become the most therapeutic part of people’s day.

55.7% of you voted No in yesterday’s poll: Have you taken more outdoor-focused trips since the pandemic?

“It is more difficult now to get in the travel mindset.”

“We were already outdoorsy. Living on the coastal South, many of us didn’t retreat indoors during the pandemic — though we still wore masks and got the first and second COVID shots.”

“The outdoors helps me escape from the increasingly chaotic, divided, and angry world we live in. I don’t think nature has ever felt more beautiful or more desired.”

Let’s keep the conversation going. Join our Poll Of The Day newsletter, so your opinions can shine. Discover how your views line up with your peers’, check out cool insights, and have some fun. It’s data with personality.

🎮 Ubisoft has officially launched Vantage Studios, a Tencent-backed subsidiary dedicated to its top franchises — Assassin’s Creed, Rainbow Six, and Far Cry.

🤖 Character.AI has removed several chatbots based on Disney characters after receiving a cease-and-desist letter from the Mouse House.

🎧 Spotify will now allow users to block specific songs from influencing their recommendation algorithms. Guilty pleasures, rejoice!

🚗 Ford and GM have devised a fascinating scheme to keep the EV tax credit alive a bit longer: buying the cars themselves.

🏦 Stripe has applied for a federal banking charter, which would allow it to continue issuing stablecoins.

🖊️ Microsoft is rolling out a vibe-coding agent in Office that can create Word docs and Excel spreadsheets from a simple prompt.

👀 Meta announced that it will use people’s chats with Meta AI to personalize advertising.

📰 TikTok isn’t just for dances anymore — one in five Americans now gets their news there, per Pew Research Center.

🫠 Just one day after OpenAI released its Sora social app, people are already using it to create deepfakes of Sam Altman with clearly copyrighted characters. Yikes.