“Oftentimes, a second chief executive is brought on during a complicated situation, according to John Challenger, CEO of Challenger Gray & Christmas Inc., a firm specializing in employment and outplacement services. Other times, he said, someone is brought into the position as a recognition of the value they potentially bring to a complicated job. With two CEOs, responsibility is shared.
“‘I think most companies go into it with rose-colored glasses hoping it’s going to work,’ said Challenger. ‘It doesn’t because communication isn’t perfect, lines of authority get confused and incidents usually occur where one person may say one thing and another says another. It’s hard to figure out who has the final say in things.’”