Chipotle Mexican Grill has become the latest company to decide that two heads probably aren’t better than one, following in the recently-tread footsteps of Whole Foods Market.
Then there was Swiss luxury goods company Richemont, which this year decided it would go one better and jettison both its CEOs without replacing either. Other companies that have ditched the dual-CEO model in recent years include Blackberry and Deutsche Bank.
In Chipotle’s case, it was a matter of founder Steve Ells wanting to simplify the business. At least that’s the reason he gave for the departure of co-CEO Monty Moran.
“Chipotle is based on a very simple idea: we start with great ingredients, prepare them using classic cooking techniques, and serve them in a way that allows people to get exactly what they want,” Ells said in a statement. “Even though it’s a simple idea, operations have become over-complicated.”
Companies with two leaders always risk going astray should big egos collide. And more unconventional management structures are often the first thing to be targeted by investors if share prices aren’t rising—especially if, as in Chipotle’s case, having two CEOs means having two large pay packages.
Whole Foods is in the midst of a prolonged sales slump as competition heats up in the organic food market. Chipotle, meanwhile, is still struggling to recover from food contamination scares that spooked many customers.
The most notable company left carrying the co-CEO flame is Oracle, which has been run by Safra Catz and Mark Hurd since Larry Ellison stepped down in late 2014.
Oracle shares flourished over Ellison’s decades-long reign, but have more or less flat-lined since his departure, with the company recently missing analysts’ estimates with a 1.7% decline in first-quarter revenue. Nobody, however, appears to be publicly calling for any changes at the top just yet.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
