The founder of a $470 million business explains why she chose to give up her role as CEO

pulse

June 20, 2017 2:32 PM

ClassPass founder Payal Kadakia recently stepped down from her role as CEO of a $470 million business.

It comes down to trust. ClassPass founder Payal Kadakia recently handed the CEO reins to Fritz Lanman, an early investor in ClassPass.

Leading an organization can be hard. Deciding to step down from leading that organization can be even harder.

That's the decision ClassPass founder and former CEO Payal Kadakia made just a few months ago.

"I think founders, as they go through their company, the founder/CEO role just fundamentally changes," she explained in an interview with Business Insider US editor-in-chief Alyson Shontell on Business Insider's podcast, "Success! How I Did It."

Kadakia decided to hand the CEO baton to an early ClassPass investor, Fritz Lanman, and stay involved in the company in an executive chairman position. Ultimately, she said, the decision to move into a new role wasn't as difficult as some people might expect.

She continued:

Kadakia told Shontell that she believes the impact she has on people's lives is more important than the title she holds. "The only thing and I thought a lot about this was: I want little girls to believe that they can be CEOs. The best thing I could do, though, is be an empowered female and authentically doing what I love. That's the message I want to send," she said.

You can listen to the full interview here:

Subscribe to "Success! How I Did It" on Acast or iTunes. Check out previous episodes with: