EveryMatrix has joined several business heavyweights in shifting to a co-CEO model.
The global gaming supplier has confirmed that from 1 January 2026, Jonas Groes will sit alongside his brother, and EveryMatrix Co-Founder, Ebbe Groes, as the company’s joint Chief Executives.
According to EveryMatrix, the decision has been made as the company seeks to secure a podium position as a tier-one technology provider.
An alternative avenue
Co-CEO setups remain uncommon, with just 1.2% of the Russell 3000 index using the model.
Despite this, some notable companies have chosen to balance leadership as operations expand.
In September, streaming giant Spotify announced that co-presidents Alex Norström and Gustav Söderström will replace the platform’s founder, Daniel EK, in January. Netflix, Comcast and Oracle have all also implemented a shared model in recent years.
The benefits of doing so centre on sharing responsibilities as business needs expand, and providing complementary skills and experience.
“As the company’s growth continues, tripling our headcount in the last five years, and as we work with more of the largest gaming brands and lotteries, I needed to find someone who knows what it takes to scale a business and reach the ambitious targets we have for the next five years,” said Ebbe Groes on the appointment.
A study by the Harvard Business Review of 87 public companies whose leaders identified as co-CEOs generated an average shareholder return of 9.5%, compared to the average of 6.9% for each company’s relevant index.
Though a private company, EveryMatrix has invested significantly into expansion and growth in recent years, and is continuing to take decisions to earn a bigger return on that investment.
As such, Jonas will be based in Copenhagen, where EveryMatrix has recently opened an office.
For the last ten years, he has served as a Partner at EY’s Nordic consulting practice, where, according to EveryMatrix, he has helped lead projects with a focus on strategy, innovation and digitalisation towards major Government and infrastructure clients.
“We work well together, and our differences and combined strengths complement one another,” said Jonas on the prospect of working alongside his brother.
Previous case studies
On the flip side of this, such an arrangement can at times lead to a power struggle.
Marvin Bower, who led the expansion of the global management consulting firm McKinsey, publicly warned Goldman Sachs not to have co-CEOs, as “power sharing never works”.
The cloud-based software company Salesforce has twice dropped experiments with dual CEO’s in recent years.
Analysts Equilar have found that among the current Russell 3000 leaders, the median time co-CEOs have been sharing power is 2.6 years compared to the median for solo CEO’s, who have been in their jobs for 5.6 years.
However, Equilar stated that those partnerships that last tend to comprise co-founders and/or relatives.
“To share a CEO position requires complete trust at both a personal and professional level,” said Ebbe Groes on the decision to bring his brother on board. “Jonas is the perfect candidate, and I know he will go on to do amazing things at EveryMatrix.”
As EveryMatrix embarks on the next chapter of its journey, it remains to be seen if two heads really are better than one.
