Richard Davis' decision to become CEO of Phoenix-based nonprofit Make-A-Wish America was perplexing to some. It shouldn't have been. To Davis, 60, the connection between the nonprofit and U.S. Bancorp, where he served as chief executive until 2017, is seamless. Both are in the business of "fulfilling dreams," said Davis, who begins his new duties Jan. 2. He's thrilled to be at the helm of Make-A-Wish, which in 38 years has granted 300,000 wishes to critically ill children, from meeting a superhero to designing a 3-D airplane to getting a puppy. But banking as dream-making? Sure. Davis, who climbed the banking ranks beginning as a teller at age 18, reflects on that, and the joy of new challenges.
Q: So, oppressive heat won out over windchill?
A: When I went to Phoenix to meet with Make-A-Wish staff, someone apologized for their "four pretty tough months" of heat. Somebody else said, "You do know where he's coming from, right?" Although we sold our home here, I'll always find ways to return to Minnesota.
Q: A lot of people expressed surprise when you retired from U.S. Bank in April of 2017. You were at the top of your game and only 59. What drove you?
A: When I was 56, after seven years at the helm, I sat down with two of the bank's lead directors and said, "We should start thinking about my exit at the 10-year mark." First, I personally believe a good CEO of a large company should not be there for more than 10 years. Second, my successor, Andy Cecere, was two years younger than me. If he thought I was going to work until 65, we might lose him. Third, I wanted to do one more thing. I wanted to be part of something. I always did.
Q: And Make-A-Wish was it?
A: Not exactly. After I retired, I didn't know what I'd do next. But I made myself available. I tell my peers that, between 50 and 70, we are blessed with experience, wisdom, wealth, access and time. Why would we go off the grid? I knew the right opportunity would come along. I looked in Minnesota but nothing quite jumped out at me. I was playing putt-putt with my grandkids when a search firm contacted me with a "new opportunity." I scrolled down on my phone and saw Make-A-Wish. My heart jumped. It's a beautiful brand and exactly at the heart of what I want to do. It's in the business of hope.
Q: And it's getting easier for families to have hope. Many Make-A-Wish children now live into adulthood.