.Greetings and also invited to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and also main material officer of Mansueto Ventures. Every week this bulletin explores comprehensive methods to leadership drawn from conversations with execs as well as business people, and also coming from the webpages of Inc. and also Quick Provider. If you obtained this e-newsletter coming from a good friend, you may join to acquire it on your own every Monday morning.Being a CEO nowadays is actually challenging: Stress feature satisfying shareholders, handling rising expenses and also dealing with ongoing supply-chain problems, and developing wonderful place of work. But also for a lot of execs, being actually an ex-CEO presents its own collection of challenges. Some problem to cope with the loss of the rewards and standing that possess the task, while others really feel obliged to comply with the well-trodden road to personal equity or corporate boards." Every year, thousands of executives relinquish long and also effective company occupations. However couple of are planned for the trip they are about to embark on," previous Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Organization Customer review essay, penciled along with profession instructor Rick Johnson and also talent scout Dennis Carey.Life beyond MicrosoftOne former business chieftain who seems to be to have actually located his footing is actually previous Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball crew for $2 billion in 2014 as well as merely unveiled the group's brand new home, the Intuit Dome. (Prompt Firm calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers enthusiasts.") The team and also sector have actually provided Ballmer a feeling of purpose that possesses, in some ways, eclipsed his experiences at the technician giant. "I have actually dealt with a great deal of products throughout my career at Microsoft, and I've enjoyed them all," Ballmer informed me during the course of a meeting this month at Intuit Dome in front of an audience that featured participants of the Young Presidents' Institution as well as development laborers that assisted construct the establishment and also their families. "But ... in the advancement of the structure, I most likely had a clearer scenery of what I wished to do, and also I possess one of the most satisfaction, not just because it thrived, however [given that] it's an assets in the neighborhood, as well." Intuit Dome has actually significantly been an interest venture for Ballmer, that looked for to make sure that all enthusiasts have a superior experience. Every seat is designed with easy accessibility to concessions as well as restrooms, phone charging functionalities, as well as enough leg area, despite ticket price.Ballmer's substantial assets are settling. The Clippers won 51 activities in the 2023-2024 season, and finished 4th in the NBA Western Event. (The Dallas Mavericks dealt with the staff from the playoffs.) As well as Ballmer regularly places as being one of the best NBA owners in follower polls.He is an extremely unlikely role model for post-CEO life. His retirement life coming from Microsoft in 2014 after 34 years at the company and also 13 years as CEO was psychological as well as stuffed. Though profits virtually tripled throughout his period, the stock practically stood still, and also the provider overlooked the opportunity to end up being a gamer in mobile phones as well as world wide web solutions. Under pressure coming from the firm's board, Ballmer found to renew the provider before inevitably determining he was not the most ideal person to move Microsoft onward. A press reporter who chronicled his parting coming from Microsoft explained him as "very unfortunate to leave behind the company." CEO, reinventedPart of what helps make Ballmer a second-act success account is actually that he failed to attempt to recreate his company lifestyle. Somewhat, he seized an option to get the Clippers after previous co-owner Donald Sterling was banned from operating the group or associating with the NBA. "Having way too many options can bring about selection exhaustion, going back to skip options, or maybe steering clear of deciding altogether," Wilderotter and also her co-authors mention, encouraging ex-CEOs to instead redefine their reason or even identity. (Ballmer is likewise owner of USAFacts, a detached data company.) Expense George, the previous Medtronic chief executive officer who modify himself as a management master after retirement life, has claimed that the previous Chief executive officers who prosper are actually the ones who discover techniques "to produce or nurture things that will certainly outlast them." Throughout our job interview at the field, Ballmer reflected this view. "A person told me as soon as, 'Nobody ever truly possesses a baseball group. You look after it. You shepherd it, as well as you deliver it along,'" he points out. "Intuit Dome may be a little bit of what I carry out to shepherd this team along. Since it's owned due to the supporters by the end of the day, and our team merely deal with it." Are you a single chief executive officer in a 2nd act?Are you a past chief executive officer who possesses located reason in your 2nd act? How did you set about locating your brand new identity? Deliver your understandings and also stories to me at stephaniemehta@mansueto.com. I'll discuss the most compelling instances in a future newsletter.Read and also enjoy even more: 2nd process Relate to the absolute most Impressive Companies Awards and be realized as an organization driving the globe onward by means of technology. Early-rate due date: Friday, August 23.