Most founders on First Principles—The Ken’s fortnightly leadership podcast—have also been CEOs. And one of the questions we often ask them is: when to make way for someone else as a CEO?

If leadership is a ladder, we often make the mistake of thinking that the CEO title sits at the apex. 

Instead, leadership is a journey. And the best founders know that to create organisations that outlast them, the CEO title is but one milestone in their journey. The road doesn’t end there.

Varun Dua, our guest for this episode, co-founded Acko—a digital-first insurer most recently valued at over $1.4 billion. He was also Acko’s CEO before hiring a seasoned insurance industry leader to take over that role.

That’s not the only thing different about Varun. 

He freely admits that as a graduate, he was super lazy and had neither a plan for his life nor any interest in being an entrepreneur. His dream at one point was to get hired by eBay or Cleartrip. Thankfully for him, neither of the companies hired him.

So, he ended up starting one company, which morphed into another firm, which morphed into Acko.

Along the way, he went from super lazy to super driven.

In today’s episode, Varun reflects on the choices he made in his career and life and talks about how he’s preparing for the ones that still lie ahead.

Full Episode Transcript:

Rohin Dharmakumar 

Varun, you’re the 22nd guest to appear on First Principles. All 22 of them have been co-founders. Most of them have been CEOs. You’re the co-founder of Acko, but you’re not the CEO. When and how did that transition happen?

Varun Dua 

Interesting start. Firstly, thank you for having me over.

But, just to put a timeline to it. The company is now about six years old. I think we got Sanjeev (Srinivasan), who’s the CEO, onboard about 18-20 months ago. The company was expanding. 

Sanjeev has been a thorough insurance professional, he’s worked with ICICI. He was the CEO of Bharti AXA. And as the company expanded, and we looked at the different things that we were doing, I knew where my strengths were, my strengths, were really about taking the product forward, zero-to one-pieces forward. Setting up newer businesses within the company. 

As some of the P&Ls are maturing, I think that it needed a lot more focus, to be able to do some of these things. 

We are also a regulated business. So it involves a lot of interfacing with the regulator. Fairly constant, either sometimes proactively, or sometimes they keep interfacing with you.