.Hi and welcome to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and primary material police officer of Mansueto Ventures. Weekly this e-newsletter discovers inclusive strategies to management reasoned talks with execs as well as business owners, and also from the pages of Inc. and also Rapid Business. If you received this e-newsletter coming from a pal, you can easily register to acquire it on your own every Monday morning.Being a CEO nowadays is actually difficult: Pressures consist of satisfying shareholders, handling climbing expenses and also dealing with on-going supply-chain problems, and making fantastic offices. But for many managers, being actually an ex-CEO shows its personal collection of challenges. Some problem to handle the loss of the advantages and condition that possess the work, while others experience required to adhere to the well-trodden pathway to exclusive equity or business panels." Yearly, countless executives retire from lengthy as well as effective business jobs. However handful of are prepared for the quest they will embark on," previous Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Organization Review essay, penned along with job trainer Rick Smith and also talent scout Dennis Carey.Life beyond MicrosoftOne past business tribal chief who seems to have located his ground is former Microsoft CEO Steve Ballmer. Ballmer purchased the Los Angeles Clippers basketball team for $2 billion in 2014 as well as simply unveiled the group's brand new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion playing field for Los Angeles Clippers followers.") The crew and sector have actually provided Ballmer a feeling of reason that has, somehow, shrouded his knowledge at the technology titan. "I have actually serviced a considerable amount of products throughout my occupation at Microsoft, and also I've loved them all," Ballmer informed me during the course of an interview this month at Intuit Dome facing a target market that consisted of members of the Young Presidents' Institution in addition to construction workers that helped build the location and also their loved ones. "Yet ... in the advancement of this building, I perhaps had a clearer scenery of what I desired to carry out, as well as I possess the best contentment, not just because it prospered, however [because] it is actually an investment in the neighborhood, too." Intuit Dome has quite been actually an enthusiasm project for Ballmer, who looked for to make certain that all supporters have a fee expertise. Every chair is developed along with effortless access to giving ins as well as restrooms, phone demanding functionalities, and sufficient lower leg room, despite ticket price.Ballmer's significant assets are actually repaying. The Clippers succeeded 51 games in the 2023-2024 time, and ended up 4th in the NBA Western Event. (The Dallas Mavericks eliminated the team coming from the playoffs.) As well as Ballmer routinely ranks as one of the leading NBA owners in enthusiast polls.He is actually an improbable good example for post-CEO life. His retirement life from Microsoft in 2014 after 34 years at the company as well as 13 years as chief executive officer was mental and also filled. Though incomes almost tripled in the course of his tenure, the stock generally stood still, as well as the provider missed the opportunity to become a gamer in mobile devices as well as world wide web companies. Struggling coming from the company's board, Ballmer looked for to revamp the company just before eventually choosing he was actually not the most effective person to move Microsoft onward. A reporter who narrated his separation coming from Microsoft described him as "incredibly depressing to leave behind the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act excellence tale is actually that he failed to try to reproduce his corporate lifestyle. Instead, he confiscated an opportunity to acquire the Clippers after previous co-owner Donald Sterling was banned coming from running the crew or even associating with the NBA. "Possessing way too many selections can result in selection fatigue, reverting to skip possibilities, or even preventing deciding completely," Wilderotter and also her co-authors state, encouraging ex-CEOs to rather redefine their objective or even identity. (Ballmer is actually also founder of USAFacts, a nonpartisan records company.) Costs George, the former Medtronic CEO who recast themself as a leadership authority after retirement life, has said that the former Chief executive officers that prosper are the ones who locate techniques "to develop or even nourish points that will definitely outlive them." In the course of our meeting at the field, Ballmer echoed this belief. "A person told me when, 'Nobody ever before definitely owns a baseball group. You handle it. You shepherd it, and also you deliver it along,'" he points out. "Intuit Dome can be a small amount of what I perform to shepherd this team throughout. Because it is actually owned due to the fans at the end of the time, as well as our team merely take care of it." Are you an one-time CEO in a second act?Are you a previous chief executive officer who possesses located function in your 2nd act? Just how did you set about discovering your brand-new identity? Send your insights and anecdotes to me at stephaniemehta@mansueto.com. I'll share the best compelling examples in a potential newsletter.Read as well as see more: second process Apply to one of the most Innovative Providers Awards as well as be actually realized as an institution steering the globe ahead via advancement. Early-rate due date: Friday, August 23.