.Hello and welcome to Modern chief executive officer! I'm Stephanie Mehta, CEO as well as primary material officer of Mansueto Ventures. Every week this newsletter explores broad approaches to management drawn from talks along with executives as well as business owners, and from the pages of Inc. as well as Fast Provider. If you acquired this email list coming from a close friend, you can register to acquire it on your own every Monday morning.Being a CEO nowadays is hard: Tensions feature pleasing investors, handling rising costs and addressing ongoing supply-chain concerns, and creating fantastic place of work. But for a lot of execs, being an ex-CEO shows its own set of difficulties. Some battle to deal with the loss of the advantages as well as status that come with the job, while others experience obliged to comply with the well-trodden path to personal equity or even corporate boards." Yearly, 1000s of execs retire from lengthy as well as successful business occupations. But handful of are gotten ready for the adventure they are about to plunge into," previous Frontier Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Company Testimonial essay, penciled with occupation instructor Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne former corporate tribal chief who seems to be to have located his footing is actually past Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers basketball crew for $2 billion in 2014 as well as merely introduced the team's brand-new home, the Intuit Dome. (Rapid Company calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers followers.") The team and field have actually offered Ballmer a feeling of function that possesses, in some ways, shrouded his expertises at the specialist giant. "I've worked on a great deal of products over the course of my job at Microsoft, and also I have actually liked them all," Ballmer informed me throughout a job interview this month at Intuit Dome before an audience that featured members of the Youthful Presidents' Organization as well as building laborers who assisted create the establishment as well as their households. "Yet ... in the development of this building, I most likely had a clearer viewpoint of what I desired to carry out, as well as I possess the best complete satisfaction, not even if it prospered, but [given that] it's an expenditure in the area, too." Intuit Dome has actually very much been an enthusiasm project for Ballmer, who looked for to ensure that all supporters have a premium knowledge. Every seat is actually designed along with simple accessibility to concessions as well as washrooms, phone charging capabilities, and also substantial leg space, no matter ticket price.Ballmer's substantial financial investments are settling. The Clippers succeeded 51 activities in the 2023-2024 season, and also completed 4th in the NBA Western Event. (The Dallas Mavericks eliminated the team coming from the playoffs.) As well as Ballmer consistently rates being one of the best NBA proprietors in fan polls.He is a not likely shining example for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the business and also 13 years as CEO was actually psychological as well as filled. Though profits virtually tripled in the course of his tenure, the stock basically stagnated, and also the business overlooked the possibility to come to be a player in mobile phones and internet companies. Under pressure coming from the company's board, Ballmer found to remodel the business just before inevitably choosing he was actually not the greatest person to move Microsoft forward. A reporter who narrated his parting from Microsoft explained him as "quite saddening to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act results tale is actually that he didn't try to recreate his corporate lifestyle. Rather, he took possession of an opportunity to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited from managing the team or connecting with the NBA. "Possessing excessive options may lead to choice exhaustion, returning to skip alternatives, or even staying clear of choosing completely," Wilderotter as well as her co-authors mention, suggesting ex-CEOs to rather redefine their purpose or even identity. (Ballmer is actually likewise owner of USAFacts, a detached records provider.) Costs George, the previous Medtronic chief executive officer that recast themself as a management guru after retired life, has claimed that the former CEOs that flourish are the ones that locate ways "to generate or nourish points that will certainly outlive all of them." Throughout our job interview at the field, Ballmer echoed this belief. "Someone told me when, 'No person ever before actually has a baseball crew. You care for it. You shepherd it, as well as you take it along,'" he states. "Intuit Dome may be a little bit of what I perform to shepherd this crew throughout. Because it's possessed by the supporters at the end of the time, and also we merely deal with it." Are you a single chief executive officer in a second act?Are you a past chief executive officer that possesses located objective in your second action? Just how performed you go about locating your brand-new identification? Deliver your insights as well as stories to me at stephaniemehta@mansueto.com. I'll share the best compelling instances in a future newsletter.Read and also watch even more: second process Apply to the absolute most Impressive Business Awards and be actually identified as an institution driving the globe onward with development. Early-rate deadline: Friday, August 23.