{"id":6669,"date":"2025-11-11T16:45:35","date_gmt":"2025-11-11T16:45:35","guid":{"rendered":"https:\/\/friscotimes.org\/?p=6669"},"modified":"2025-11-11T22:44:08","modified_gmt":"2025-11-11T22:44:08","slug":"lyfts-ceo-got-the-top-job-after-initially-turning-it-down-heres-the-six-week-process-that-made-him-chief-executive","status":"publish","type":"post","link":"https:\/\/friscotimes.org\/?p=6669","title":{"rendered":"Lyft’s CEO got the top job after initially turning it down\u2014Here’s the six-week process that made him chief executive"},"content":{"rendered":"\n

Many professionals would jump at the idea of helming a billion-dollar company\u2014after all, the top job comes with power, prestige, and a sizable pay bump. But when Lyft CEO David Risher was offered the chief executive role two years ago on Valentine\u2019s Day, he was anything but ecstatic.\u00a0<\/p>\n

\n

\u201cMy phone rings, and the [Lyft] board chair, Sean Aggarwal, is on the line, and he says, \u2018David, we\u2019ve got an offer we think you can\u2019t refuse,\u2019\u201d Risher said in a recent interview<\/a> with The Verge.<\/em> \u201cAnd I\u2019m preparing myself for, \u2018We want you to be the chair of the audit committee.\u2019 Some terrible thing that he\u2019s trying to butter me up for.\u201d<\/p>\n

Risher had been serving on the board since 2021\u2014but as it turns out, Aggarwal wasn\u2019t trying to convince him to lead the business\u2019 financial reports. Lyft\u2019s two cofounders, John Zimmerman and Logan Green, were looking to step back from the company after more than a decade of putting in their blood, sweat, and tears. The business needed a new leader, and Aggarwal informed Risher he and the cofounders thought he was the \u201cright guy.\u201d<\/p>\n

\u201cI said, \u2018No, that\u2019s ridiculous. I don\u2019t even know what you\u2019re suggesting,\u2019\u201d Risher recalled. \u201c\u2018You need to hang up the phone immediately, and you can get back to work, do something which has a higher likelihood of success.\u2019\u201d<\/p>\n

It\u2019s an unorthodox reaction to being offered the CEO gig at a $9.4 billion ride-sharing company\u2014but Risher had priorities of his own. The executive was still leading the global ed-tech nonprofit he cofounded back in 2009, Worldreader, and was laser-focused on the mission at hand. Risher hadn\u2019t considered himself for Lyft\u2019s CEO role, even taking a backseat while the board committee looked for candidates, only \u201cobserving from afar.\u201d But after turning down the initial offer and spending some time to mull over the idea, he had a change of heart.<\/p>\n

Finally accepting the offer and enduring a six-week long process<\/h2>\n

After writing off the idea of becoming CEO of Lyft as absurd, he decided to do some soul searching. Aggarwal encouraged him to think about it\u2014and later that day, Risher\u2019s wife convinced him to give it a shot.<\/p>\n

\u201cI literally took a walk around for about an hour, and I thought, and I kept hearing myself say, \u2018Hmm, interesting,\u2019\u201d Risher continued. \u201cAs I mentioned, it was Valentine\u2019s Day, so this became the topic of conversation between my wife and me that evening. And she said, \u2018David, I think you should give it a try or go for it.\u2019\u201d<\/p>\n

A few days later, Zimmerman and Green met with Risher to sell him on the opportunity. But instead of simply handing him the keys to the corner office, the Lyft cofounders just put him in the running for the CEO job.\u00a0<\/p>\n

\u201cThey did something, which I don\u2019t think they were being clever; I think they were just being honest. They said, \u2018Just to be clear, we\u2019re not offering you the job; we\u2019re offering you the chance to apply for the job.\u2019\u201d Risher said. \u201cAnd I\u2019m like, \u2018Hold on. Now I\u2019m getting competitive.\u2019\u201d<\/p>\n

But securing the top job was no cake walk: It took about six weeks, and Risher put together his 100-day plan. He spoke with every single board member, some of which thought his CEO strategy was \u201cinteresting,\u201d while others said it was \u201ccrazy\u201d and \u201cdidn\u2019t make any sense.\u201d Part of it entailed a mass layoff and completely restructuring the team, which resulted in the canning of about 1,100 Lyft employees when he stepped up as chief executive.\u00a0<\/p>\n

Another tactic was innovating around customers. Risher had the chops to get it done, having worked at Microsoft in its early days, and under Jeff Bezos as Amazon\u2019s senior vice president of U.S. retail. Risher said \u201ccustomer obsession\u201d was at the center of all of his ventures, making him the perfect candidate. His gameplan paid off, officially becoming Lyft\u2019s CEO in April 2023.\u00a0<\/p>\n

This year, Lyft reported record<\/a> gross bookings of $4.8 billion in the third quarter\u2014up 16% year-over-year\u2014and reached an all-time high revenue of $1.7 billion. There was also a record-breaking number of rides and active riders, with rides growing 15% year-over-year and the number of active customers soaring to 28.7 million.\u00a0<\/p>\n

Others leaders who turned down CEO job offers<\/h2>\n

Risher isn\u2019t the only business leader who has made the jaw-dropping choice to turn down a CEO offer.\u00a0<\/p>\n

Nicola Mendelsohn, head of Meta\u2019s Global Business Group, turned down several CEO offers in order to preserve her work-life balance. She even took a pay cut to have a four-day workweek and spend more time with her kids\u2014and no glitzy chief executive compensation package was going to get in the way of that. When the offers came rolling in, she knew she couldn\u2019t do good by the company while being present with her family.\u00a0<\/p>\n

And Marguerite Mariscal, chief executive at culinary brand Momofuku, rejected her current job \u201ca million times\u201d before she finally accepted. At the time, she was 29 years old, and didn\u2019t feel she was ready to take on the top job. But ultimately, she didn\u2019t want anyone else controlling the future of the business.\u00a0<\/p>\n

\u201cI think anyone who grows up wanting to be a CEO is crazy,\u201d Mariscal told Fortune<\/em> <\/em>last year. \u201cIt\u2019s a very difficult job.\u201d\n<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Many professionals would jump at the idea of helming a billion-dollar company\u2014after all, the top job comes with power, prestige, and a sizable pay bump. 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