Keith Block, vice chairman and president of Salesforce, will serve as co-CEO with Marc Benioff, who founded the company in 1999, according to Fortune.
Only 23 Fortune 500 companies in the last 30 years have attempted to implement the co-CEO model, but Mr. Benioff and Mr. Block have known each other since they both started at Oracle in 1986 and have "really grown to be great partners," according to Mr. Benioff.
"This announcement really reflects how Salesforce is run today, which is that Keith and I over the last five years have developed a very strong partnership," Mr. Benioff told Fortune. "Running the fastest-growing software company in the world is more than a full-time job, and that’s why we need two of us to do it."