In this week’s episode of Equity, Haje Kamps and Mary Ann Azevedo delve into the recent decision by fintech company Brex to abandon its co-CEO model.
Founded in 2017 by Pedro Franceschi and Henrique Dubugras, Brex initially thrived under the co-CEO structure, with Franceschi focusing on internal operations and Dubugras on external relations. However, as the company grew, this setup began to slow decision-making, prompting the company’s recent shift to a single-CEO model. Franceschi will now lead as CEO, while Dubugras will be chairman of the board.
Haje and Mary Ann discussed the broader challenges a company could face with two CEOs, highlighting how this change aims to enhance agility and appeal to investors as Brex eyes a potential IPO. They also talked about other companies that have adopted or abandoned similar leadership models.
If you want to hear more about the logic behind Brex’s co-CEO model, check out this episode of TechCrunch’s Found podcast from last year, where Franceschi and Dubugras gave us a look at why they chose that path.
Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Monday, Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.
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