Achtenberg left the post in 1995 to run for mayor of San Francisco, but lost the election. From 1998 to 2004, Achtenberg helped develop the policies for both the San Francisco Chamber of Commerce and the San Francisco Center for Economic Development. In 2000, she became the Director of the Bank of San Francisco and Andrew J. Wong, Inc. She served as Senior Vice President for Public Policy at the San Francisco Chamber of Commerce until January 2005. In 2000, she was appointed to the Board of Trustees of California State University by Governor Gray Davis, becoming chair of the board in May 2006, serving on the CSU Board of Trustees until 2015.