.Hi there and invited to Modern chief executive officer! I am actually Stephanie Mehta, chief executive officer and main satisfied policeman of Mansueto Ventures. Every week this e-newsletter checks out broad methods to management reasoned discussions along with execs as well as business owners, and also from the web pages of Inc. and Prompt Firm. If you got this e-newsletter from a friend, you may register to obtain it your own self every Monday morning.Being a chief executive officer in these times is hard: Pressures consist of fulfilling shareholders, handling increasing costs and handling ongoing supply-chain problems, and also creating excellent offices. But for many managers, being an ex-CEO offers its personal set of challenges. Some struggle to manage the loss of the benefits and also condition that come with the work, while others experience required to adhere to the well-trodden path to personal equity or corporate panels." Yearly, lots of executives retire from lengthy as well as effective company occupations. However handful of are actually planned for the journey they will embark on," past Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Service Review essay, penciled along with career trainer Rick Johnson and headhunter Dennis Carey.Life past MicrosoftOne previous business tribal chief who appears to have discovered his footing is former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers baseball group for $2 billion in 2014 and merely unveiled the staff's new home, the Intuit Dome. (Fast Company calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers enthusiasts.") The crew as well as field have actually provided Ballmer a sense of function that has, in some ways, overshadowed his experiences at the specialist titan. "I have actually worked on a ton of items throughout my occupation at Microsoft, and also I've loved all of them all," Ballmer informed me during a meeting this month at Intuit Dome facing a reader that consisted of participants of the Young Presidents' Organization in addition to development laborers that assisted construct the center and also their family members. "Yet ... in the development of this building, I probably possessed a clearer sight of what I wished to carry out, and I have the best fulfillment, certainly not just because it turned out well, but [considering that] it's an investment in the neighborhood, also." Intuit Dome has actually quite been an enthusiasm venture for Ballmer, who found to ensure that all fans have a superior adventure. Every chair is created along with simple access to concessions and also washrooms, phone asking for capacities, as well as ample leg area, irrespective of ticket price.Ballmer's sizable financial investments are actually settling. The Clippers won 51 activities in the 2023-2024 season, and ended up fourth in the NBA Western Conference. (The Dallas Mavericks dealt with the team from the playoffs.) As well as Ballmer repeatedly rates being one of the leading NBA managers in follower polls.He is a not likely good example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the firm and also 13 years as CEO was mental and also tangled up. Though earnings nearly tripled during his tenure, the equity generally stagnated, and also the provider overlooked the opportunity to end up being a player in cell phones as well as web solutions. Under pressure coming from the business's board, Ballmer found to remodel the firm just before essentially choosing he was not the greatest person to relocate Microsoft forward. A reporter that chronicled his departure coming from Microsoft defined him as "incredibly sad to leave the company." CEO, reinventedPart of what makes Ballmer a second-act excellence story is that he didn't attempt to recreate his company lifestyle. Rather, he took a chance to acquire the Clippers after previous co-owner Donald Sterling was banned from running the staff or relating to the NBA. "Having too many choices can easily trigger selection exhaustion, going back to skip alternatives, or maybe steering clear of deciding entirely," Wilderotter and her co-authors state, recommending ex-CEOs to rather redefine their reason or identity. (Ballmer is additionally owner of USAFacts, a detached data provider.) Expense George, the previous Medtronic chief executive officer who recast themself as a leadership master after retirement life, has actually stated that the former Chief executive officers who grow are the ones that locate ways "to make or nurture factors that are going to outlast all of them." During the course of our interview at the stadium, Ballmer echoed this sentiment. "A person informed me the moment, 'Nobody ever before truly owns a baseball crew. You take care of it. You shepherd it, as well as you bring it along,'" he says. "Intuit Dome could be a little bit of what I carry out to shepherd this staff along. Considering that it is actually had by the enthusiasts at the end of the day, as well as our experts only look after it." Are you a single chief executive officer in a second act?Are you a previous chief executive officer who has located reason in your 2nd action? Exactly how did you go about discovering your brand-new identification? Send your knowledge and also narratives to me at stephaniemehta@mansueto.com. I'll share the best compelling examples in a future newsletter.Read and view much more: 2nd process Put on the Most Innovative Companies Awards and also be recognized as an organization driving the planet ahead by means of technology. Early-rate target date: Friday, August 23.