Lily Sarafan ’03 selected as chair of Stanford Board of Trustees

Jan. 22, 2025, 11:07 p.m.

Lily Sarafan ’03, M.S. ’03 — CEO and co-founder of TheKey, a senior care provider — was elected chair of the Stanford Board of Trustees, the University announced last Wednesday.

Since 2020, Sarafan has served as a board member under former chair Jerry Yang ’90, M.S. ’90. — the venture capitalist and Yahoo! co-founder. Yang will continue to serve on the board after Sarafan begins her two-year term on July 1.

“I’m grateful to be building on a foundation of collaborative relationships with fellow trustees, university leadership, and across the wider Stanford community as Jerry and I prepare for the chair transition,” Sarafan wrote to The Daily.

Sarafan graduated from Stanford with a bachelor’s degree in Science, Technology and Society and a master’s degree in Management Science and Engineering. During her time as a student, Sarafan was a class president, Chappell Lougee Research Scholar, Eben Tisdale Fellow for High Tech Public Policy and ASSU Senate Associate. Sarafan’s start-up, TheKey, provides in-home, specialized care to seniors and has grown to become an industry leader in long-term care. 

Along with her work on the Board of Trustees, Sarafan serves at Stanford on the Freeman Spogli Institute Council, the Undergraduate Cabinet, the Interdisciplinary Life Sciences Council and the Stanford Brain-Immune-Gut Initiative (Project BIG). Sarafan is also a board member of Instacart, Serve Robotics and Thumbtack.

Upon hearing the news of Sarafan’s election, board member Nadia Rawlinson ’01 said she was “thrilled beyond belief” because she was “exactly the right choice.”

“She is approachable, accessible and probably one of the most dedicated ‘bleeding Cardinal’ people that I see around,” Rawlinson said. “She represents not just where we are but where we’re going.”

In 2024, Sarafan served as one of the three co-chairs leading the Presidential Search Committee (PSC), during Richard Saller’s interim presidency. Saller took on the position after former President Marc Tessier-Lavinge resigned due to reports of manipulated research data and the retraction of at least three research papers.

Rawlinson served alongside Sarafan on the PSC and described “choosing the next generational leader” for Stanford as “one of the most consequential” boards she’s been a part of. 

“She is someone who is dedicated, so she will give it her all no matter what, but also understands the consequence and weight of the decisions we make, so she approaches each situation with that in mind.” Rawlinson said.

Board member Roberta B. Denning ’75, MBA ’78, who has served alongside Sarafan for the past three years, described her as “hard-working, thoughtful and perceptive” in an email to The Daily.

“She will bring energy, enthusiasm, and a broad understanding of Stanford to her role as board chair.” Denning wrote.



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