.Hi and also welcome to Modern CEO! I am actually Stephanie Mehta, CEO as well as primary material police officer of Mansueto Ventures. Weekly this e-newsletter discovers broad approaches to leadership reasoned chats with execs as well as business owners, and also coming from the web pages of Inc. as well as Prompt Company. If you received this e-newsletter coming from a buddy, you can enroll to get it your own self every Monday morning.Being a chief executive officer in today times is difficult: Pressures consist of pleasing investors, taking care of rising costs and also solving ongoing supply-chain problems, as well as generating wonderful work environments. However, for several executives, being actually an ex-CEO offers its personal set of difficulties. Some problem to cope with the loss of the rewards as well as condition that include the task, while others experience obliged to adhere to the well-trodden pathway to exclusive equity or even company panels." Each year, thousands of managers relinquish lengthy as well as prosperous corporate jobs. However few are actually planned for the adventure they are about to start," past Outpost Communications CEO Maggie Wilderotter stated earlier this year in a Harvard Organization Testimonial essay, penned along with occupation trainer Rick Smith and also talent scout Dennis Carey.Life beyond MicrosoftOne previous business chieftain who seems to have actually found his footing is past Microsoft chief executive officer Steve Ballmer. Ballmer got the Los Angeles Clippers baseball crew for $2 billion in 2014 and simply introduced the staff's new home, the Intuit Dome. (Swift Firm calls it "Steve Ballmer's $ 2 billion play area for LA Clippers fans.") The team as well as field have actually offered Ballmer a sense of function that possesses, somehow, shrouded his expertises at the specialist giant. "I've worked with a bunch of products over the course of my job at Microsoft, and I've adored all of them all," Ballmer informed me during a job interview this month at Intuit Dome in front of an audience that consisted of participants of the Young Presidents' Organization as well as development laborers that aided create the facility and also their families. "However ... in the growth of this particular structure, I probably had a clearer scenery of what I wished to do, and also I have the absolute most contentment, certainly not even if it prospered, however [given that] it is actually an investment in the community, also." Intuit Dome has very much been an interest project for Ballmer, that looked for to ensure that all enthusiasts possess a fee expertise. Every seat is actually designed along with simple access to concessions and restrooms, phone billing capacities, and substantial lower leg area, irrespective of ticket price.Ballmer's considerable investments are actually paying. The Clippers won 51 video games in the 2023-2024 season, and completed 4th in the NBA Western Event. (The Dallas Mavericks did away with the group coming from the playoffs.) As well as Ballmer often rates as one of the leading NBA proprietors in fan polls.He is actually a not likely role model for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the firm and 13 years as CEO was mental and tangled up. Though earnings nearly tripled in the course of his period, the share basically stood still, and the company missed the opportunity to become a gamer in mobile phones as well as internet services. Struggling coming from the firm's board, Ballmer looked for to revamp the provider just before essentially deciding he was actually not the most ideal person to relocate Microsoft onward. A press reporter that recorded his parting coming from Microsoft illustrated him as "very saddening to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act excellence story is that he really did not attempt to recreate his business lifestyle. Instead, he took an option to obtain the Clippers after previous co-owner Donald Sterling was outlawed from managing the crew or even associating with the NBA. "Having a lot of choices may result in choice exhaustion, reverting to skip choices, and even staying away from deciding altogether," Wilderotter as well as her co-authors claim, recommending ex-CEOs to as an alternative redefine their reason or identification. (Ballmer is actually additionally founder of USAFacts, a detached information provider.) Expense George, the past Medtronic CEO who modify himself as a leadership guru after retired life, has actually said that the previous Chief executive officers who thrive are actually the ones that locate methods "to produce or support things that are going to outlive all of them." Throughout our interview at the field, Ballmer echoed this feeling. "A person told me when, 'Nobody ever before really owns a basketball team. You care for it. You shepherd it, and also you deliver it along,'" he states. "Intuit Dome may be a little bit of what I carry out to shepherd this group along. Given that it is actually possessed by the fans by the end of the time, as well as we only care for it." Are you a single chief executive officer in a second act?Are you a past chief executive officer that possesses found reason in your second act? Exactly how did you go about finding your new identity? Deliver your ideas as well as stories to me at stephaniemehta@mansueto.com. I'll discuss one of the most engaging instances in a future newsletter.Read as well as watch extra: second acts Put on the best Ingenious Companies Awards and be recognized as an institution driving the globe forward through development. Early-rate target date: Friday, August 23.