.Hello there and also appreciated to Modern CEO! I'm Stephanie Mehta, chief executive officer and also chief material police officer of Mansueto Ventures. Weekly this email list checks out comprehensive methods to management drawn from talks along with managers and also business owners, and also coming from the web pages of Inc. as well as Quick Firm. If you acquired this bulletin coming from a good friend, you can easily enroll to obtain it yourself every Monday morning.Being a chief executive officer nowadays is challenging: Stress feature fulfilling investors, managing increasing prices and also solving on-going supply-chain concerns, and also creating wonderful work environments. But also for several managers, being an ex-CEO provides its very own collection of challenges. Some struggle to manage the reduction of the advantages and status that possess the project, while others experience obliged to observe the well-trodden pathway to exclusive equity or business boards." Yearly, hundreds of executives retire from lengthy as well as productive corporate occupations. But few are planned for the adventure they will embark on," previous Frontier Communications CEO Maggie Wilderotter announced previously this year in a Harvard Service Evaluation essay, penned along with occupation train Rick Smith and talent scout Dennis Carey.Life beyond MicrosoftOne former company chieftain who appears to have actually found his footing is former Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball staff for $2 billion in 2014 as well as just introduced the group's brand-new home, the Intuit Dome. (Quick Company calls it "Steve Ballmer's $ 2 billion playground for LA Clippers fans.") The team and also field have offered Ballmer a feeling of purpose that possesses, somehow, darkened his knowledge at the tech giant. "I've worked with a lot of items throughout my profession at Microsoft, as well as I've liked them all," Ballmer told me during a meeting this month at Intuit Dome facing a viewers that consisted of participants of the Youthful Presidents' Institution as well as development laborers who aided construct the facility as well as their family members. "But ... in the progression of the property, I probably possessed a more clear sight of what I wanted to do, and I have the absolute most fulfillment, not just because it thrived, yet [because] it's an investment in the community, as well." Intuit Dome has actually quite been actually a passion venture for Ballmer, who found to make certain that all followers possess a fee experience. Every seat is developed along with very easy accessibility to deals and shower rooms, phone billing capabilities, and ample leg area, irrespective of ticket price.Ballmer's substantial assets are actually settling. The Clippers gained 51 games in the 2023-2024 period, and finished fourth in the NBA Western Association. (The Dallas Mavericks eliminated the crew coming from the playoffs.) As well as Ballmer consistently positions as one of the leading NBA managers in fan polls.He is actually a not likely role model for post-CEO lifestyle. His retirement life coming from Microsoft in 2014 after 34 years at the company and also 13 years as chief executive officer was emotional and also fraught. Though revenues almost tripled during the course of his tenure, the stock basically stagnated, and the company missed out on the possibility to come to be a player in smart phones as well as internet companies. Under the gun coming from the business's board, Ballmer sought to overhaul the company prior to ultimately deciding he was actually certainly not the best person to relocate Microsoft onward. A press reporter that told his retirement coming from Microsoft described him as "very saddening to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act effectiveness account is that he didn't attempt to reproduce his corporate life. Rather, he took an opportunity to get the Clippers after previous co-owner Donald Sterling was outlawed coming from managing the team or relating to the NBA. "Possessing way too many selections may bring about decision tiredness, changing to default options, and even steering clear of choosing entirely," Wilderotter and also her co-authors claim, advising ex-CEOs to rather redefine their purpose or identity. (Ballmer is actually likewise creator of USAFacts, a detached data provider.) Costs George, the past Medtronic CEO that recast themself as a management expert after retirement, has pointed out that the previous Chief executive officers that prosper are actually the ones that discover methods "to generate or even nurture factors that will outlast all of them." In the course of our interview at the arena, Ballmer echoed this sentiment. "Someone told me once, 'Nobody ever before truly possesses a baseball staff. You care for it. You shepherd it, and also you deliver it along,'" he points out. "Intuit Dome can be a small amount of what I do to shepherd this team along. Due to the fact that it is actually possessed by the fans by the end of the day, and also we merely deal with it." Are you an one-time CEO in a 2nd act?Are you a past CEO that possesses discovered function in your 2nd act? Exactly how performed you deal with locating your brand new identity? Deliver your knowledge and also anecdotes to me at stephaniemehta@mansueto.com. I'll share the best engaging examples in a future newsletter.Read and see more: 2nd actions Apply to the Most Impressive Companies Awards as well as be actually acknowledged as an institution steering the world forward through innovation. Early-rate target date: Friday, August 23.