.Hi there as well as invited to Modern CEO! I'm Stephanie Mehta, CEO as well as main material policeman of Mansueto Ventures. Weekly this e-newsletter checks out broad approaches to management drawn from talks along with execs as well as entrepreneurs, as well as coming from the webpages of Inc. as well as Quick Company. If you got this email list from a buddy, you can register to receive it yourself every Monday morning.Being a chief executive officer nowadays is difficult: Tensions consist of pleasing shareholders, dealing with rising costs as well as handling ongoing supply-chain issues, as well as developing excellent work environments. However, for several execs, being an ex-CEO offers its very own set of challenges. Some battle to manage the loss of the rewards and also standing that feature the project, while others experience obliged to follow the well-trodden course to exclusive equity or corporate panels." Every year, thousands of execs relinquish lengthy as well as productive business professions. However handful of are organized the journey they will start," previous Frontier Communications chief executive officer Maggie Wilderotter announced earlier this year in a Harvard Business Customer review essay, penned along with career train Rick Johnson and headhunter Dennis Carey.Life beyond MicrosoftOne past corporate tribal chief who seems to have actually located his footing is actually former Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball staff for $2 billion in 2014 and only revealed the group's brand-new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion playing field for LA Clippers enthusiasts.") The team and also sector have actually provided Ballmer a sense of objective that has, somehow, eclipsed his adventures at the specialist titan. "I've worked on a bunch of products throughout my profession at Microsoft, as well as I have actually enjoyed them all," Ballmer informed me throughout a job interview this month at Intuit Dome in front of an audience that consisted of members of the Young Presidents' Organization and also building laborers who assisted build the center as well as their families. "Yet ... in the development of the structure, I probably possessed a more clear view of what I would like to do, as well as I possess one of the most satisfaction, not just because it thrived, yet [since] it is actually an investment in the neighborhood, as well." Intuit Dome has quite been actually a passion job for Ballmer, that looked for to ensure that all enthusiasts possess a superior knowledge. Every seat is made with quick and easy accessibility to deals as well as washrooms, phone demanding functionalities, and sufficient leg space, despite ticket price.Ballmer's sizable expenditures are repaying. The Clippers won 51 games in the 2023-2024 season, and also finished fourth in the NBA Western Conference. (The Dallas Mavericks dealt with the staff coming from the playoffs.) As well as Ballmer often ranks as one of the best NBA proprietors in enthusiast polls.He is actually an unlikely shining example for post-CEO life. His retirement life from Microsoft in 2014 after 34 years at the business as well as 13 years as chief executive officer was actually mental and tangled up. Though incomes almost tripled during the course of his tenure, the equity generally stood still, as well as the business missed out on the possibility to end up being a gamer in cell phones and also net companies. Under pressure coming from the company's board, Ballmer looked for to overhaul the company just before inevitably making a decision he was certainly not the most effective person to relocate Microsoft ahead. A press reporter who chronicled his departure coming from Microsoft illustrated him as "extremely saddening to leave behind the business." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act success story is that he really did not attempt to reproduce his business lifestyle. Instead, he confiscated an opportunity to get the Clippers after previous co-owner Donald Sterling was disallowed coming from running the group or even relating to the NBA. "Possessing a lot of selections can cause decision tiredness, returning to default choices, or even avoiding choosing completely," Wilderotter as well as her co-authors mention, advising ex-CEOs to instead redefine their objective or identity. (Ballmer is actually additionally creator of USAFacts, a detached records company.) Expense George, the previous Medtronic chief executive officer who recast themself as a leadership authority after retirement life, has mentioned that the former Chief executive officers that prosper are the ones who find ways "to generate or even support things that will certainly outlive all of them." Throughout our job interview at the arena, Ballmer resembled this conviction. "Somebody told me the moment, 'No person ever before really owns a baseball team. You take care of it. You shepherd it, and also you deliver it along,'" he states. "Intuit Dome can be a little of what I perform to shepherd this crew throughout. Since it's owned by the supporters at the end of the time, and we just look after it." Are you an one-time CEO in a second act?Are you a former chief executive officer who possesses located reason in your 2nd process? Just how did you handle discovering your brand-new identification? Send your knowledge and also stories to me at stephaniemehta@mansueto.com. I'll share the most engaging instances in a future newsletter.Read as well as enjoy much more: 2nd actions Relate to the absolute most Innovative Firms Honors and be recognized as an association steering the world onward via development. Early-rate due date: Friday, August 23.