This paper advances the concept of shared ambidextrous leadership, a collaborative approach to the balance of leadership behaviors directed at innovation and efficiency within teams. Shared ambidextrous leadership refers to sharing innovation-promoting (opening) leadership and efficiency-enhancing (closing) leadership. Traditional vertical ambidextrous leadership approaches centralize the dual responsibilities of efficiency- and innovation-oriented leadership in a single individual, resulting in substantial tensions and imposing significant demands on the leader. Adopting a shared leadership perspective, we propose an alternative approach that leverages collective resources. Shared ambidextrous leadership facilitates the distribution of opening and closing leadership behaviors within teams, aligning them with individuals’ strengths and preferences. Building on preliminary evidence supporting a positive impact of shared ambidextrous leadership on performance, our study delves into the concepts’ microfoundations. Drawing on social network analysis, we empirically examine how individuals’ characteristics are associated with team members’ shared leadership behavior. Thereby, we provide an empirical foundation to the implicitly made theoretical assumption that team members lead in areas of their expertise and follow in others. We draw on data from 197 employees across 55 teams, examining whether individuals’ preferences for innovation or efficiency and related individual characteristics correspond with respective shared leadership behaviors. Hence, the generated insights bear important implications for shared leadership teams seeking to successfully navigate the intricacies of ambidextrous working contexts.