Co-CEO structures are often presented as modern, collaborative solutions to leadership transitions. In reality, they are usually a symptom of board indecision and fear of choosing. This episode breaks down how co-CEO arrangements undermine authority, slow decision velocity, diffuse accountability, and quietly paralyze execution. It explains why sharing the CEO role turns leadership into negotiation, why this structure becomes especially dangerous in a high cost of capital environment, and why boards that cannot choose one leader end up paying for that avoidance later in public and at a higher price.