.Hello there as well as invited to Modern CEO! I am actually Stephanie Mehta, CEO and also primary material officer of Mansueto Ventures. Every week this email list checks out comprehensive methods to management reasoned chats along with execs and business owners, and also from the web pages of Inc. and Swift Firm. If you got this email list from a friend, you can join to get it on your own every Monday morning.Being a chief executive officer in these times is tough: Stress consist of delighting investors, taking care of climbing costs and fixing on-going supply-chain problems, and making great offices. But also for numerous managers, being an ex-CEO provides its own collection of problems. Some problem to handle the reduction of the perks as well as status that feature the work, while others experience obliged to observe the well-trodden road to private equity or corporate panels." Every year, 1000s of executives retire from long and also prosperous corporate jobs. Yet handful of are actually planned for the experience they will embark on," previous Frontier Communications chief executive officer Maggie Wilderotter proclaimed earlier this year in a Harvard Company Evaluation essay, penciled along with job instructor Rick Johnson as well as headhunter Dennis Carey.Life beyond MicrosoftOne former company tribal chief that appears to have actually discovered his footing is actually previous Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball crew for $2 billion in 2014 as well as only revealed the group's brand-new home, the Intuit Dome. (Fast Business calls it "Steve Ballmer's $ 2 billion playground for LA Clippers enthusiasts.") The staff and sector have offered Ballmer a feeling of reason that possesses, in some ways, overshadowed his expertises at the technician giant. "I have actually focused on a great deal of items throughout my job at Microsoft, and also I have actually liked them all," Ballmer informed me during the course of a job interview this month at Intuit Dome facing an audience that featured participants of the Young Presidents' Institution along with development laborers that assisted create the center and also their family members. "However ... in the development of the building, I possibly had a clearer view of what I would like to do, as well as I have the most total satisfaction, not just because it thrived, but [considering that] it is actually a financial investment in the neighborhood, as well." Intuit Dome has actually very much been actually a passion venture for Ballmer, that looked for to guarantee that all fans possess a superior adventure. Every chair is developed with very easy access to deals and also bathrooms, phone asking for capacities, and substantial leg room, despite ticket price.Ballmer's substantial financial investments are actually paying. The Clippers succeeded 51 video games in the 2023-2024 time, and also completed 4th in the NBA Western Conference. (The Dallas Mavericks eliminated the crew from the playoffs.) And also Ballmer routinely positions as being one of the top NBA managers in fan polls.He is actually an improbable good example for post-CEO life. His retirement coming from Microsoft in 2014 after 34 years at the firm as well as thirteen years as CEO was emotional and also laden. Though earnings virtually tripled during the course of his period, the stock essentially went stale, as well as the firm skipped the chance to come to be a player in smart phones and world wide web companies. Under pressure from the company's board, Ballmer sought to remodel the business prior to ultimately deciding he was certainly not the best individual to relocate Microsoft ahead. A press reporter that told his parting coming from Microsoft defined him as "extremely unfortunate to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act success story is actually that he failed to attempt to recreate his company lifestyle. Instead, he took possession of an opportunity to get the Clippers after previous co-owner Donald Sterling was disallowed coming from managing the team or connecting with the NBA. "Possessing way too many selections can easily cause decision exhaustion, returning to default alternatives, and even steering clear of choosing altogether," Wilderotter and her co-authors say, suggesting ex-CEOs to instead redefine their reason or even identity. (Ballmer is actually likewise owner of USAFacts, a nonpartisan information provider.) Expense George, the past Medtronic chief executive officer who recast himself as a management master after retirement life, has actually stated that the past Chief executive officers who prosper are the ones that locate means "to create or support points that will definitely outlast all of them." During our meeting at the field, Ballmer reflected this sentiment. "A person informed me the moment, 'Nobody ever before really possesses a basketball team. You handle it. You shepherd it, and you bring it along,'" he points out. "Intuit Dome can be a bit of what I do to shepherd this group throughout. Because it's had due to the enthusiasts at the end of the day, and our company just handle it." Are you an one-time chief executive officer in a 2nd act?Are you a past chief executive officer who possesses discovered purpose in your 2nd act? Just how performed you go about finding your new identity? Send your understandings as well as narratives to me at stephaniemehta@mansueto.com. I'll discuss the best engaging instances in a future newsletter.Read and also enjoy much more: second acts Relate to the absolute most Impressive Providers Honors and also be actually recognized as an association driving the globe forward via advancement. Early-rate due date: Friday, August 23.