.Greetings as well as welcome to Modern CEO! I'm Stephanie Mehta, CEO and also chief material officer of Mansueto Ventures. Weekly this newsletter discovers inclusive strategies to management reasoned conversations with executives and entrepreneurs, and coming from the webpages of Inc. and Quick Company. If you obtained this newsletter coming from a pal, you can easily join to get it yourself every Monday morning.Being a CEO at presents is challenging: Stress feature delighting investors, taking care of increasing costs and handling continuous supply-chain concerns, and generating terrific work environments. However, for many executives, being an ex-CEO offers its personal set of difficulties. Some struggle to manage the reduction of the benefits and also condition that include the job, while others really feel required to observe the well-trodden course to private equity or even business panels." Each year, hundreds of managers retire from long and also effective corporate occupations. Yet couple of are actually planned for the trip they are about to plunge into," past Frontier Communications CEO Maggie Wilderotter stated previously this year in a Harvard Organization Review essay, penned with job coach Rick Smith and also talent scout Dennis Carey.Life beyond MicrosoftOne former business chieftain who seems to be to have actually found his footing is former Microsoft CEO Steve Ballmer. Ballmer got the Los Angeles Clippers baseball crew for $2 billion in 2014 as well as just introduced the crew's brand new home, the Intuit Dome. (Quick Firm calls it "Steve Ballmer's $ 2 billion play ground for Los Angeles Clippers enthusiasts.") The crew and field have actually offered Ballmer a feeling of reason that has, in some ways, overshadowed his adventures at the tech giant. "I have actually dealt with a considerable amount of products throughout my job at Microsoft, and also I've adored them all," Ballmer told me throughout a meeting this month at Intuit Dome facing an audience that featured members of the Young Presidents' Association in addition to development laborers who aided build the location and their families. "Yet ... in the progression of the structure, I probably possessed a more clear sight of what I intended to perform, as well as I have the absolute most contentment, certainly not even if it thrived, yet [since] it is actually an assets in the community, also." Intuit Dome has actually very much been a passion task for Ballmer, that found to ensure that all supporters possess a costs adventure. Every chair is actually developed with very easy accessibility to giving ins and also restrooms, phone demanding capabilities, and plenty of lower leg room, irrespective of ticket price.Ballmer's sizable financial investments are settling. The Clippers won 51 activities in the 2023-2024 time, and completed fourth in the NBA Western Event. (The Dallas Mavericks removed the staff from the playoffs.) As well as Ballmer regularly ranks being one of the leading NBA proprietors in follower polls.He is actually an extremely unlikely good example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the provider and also thirteen years as chief executive officer was actually mental as well as tangled up. Though profits nearly tripled during the course of his tenure, the assets generally stood still, as well as the provider missed out on the possibility to become a gamer in mobile devices as well as world wide web services. Struggling from the company's panel, Ballmer looked for to overhaul the business just before eventually determining he was not the very best person to move Microsoft onward. A reporter that told his parting coming from Microsoft explained him as "really unfortunate to leave the firm." CHIEF EXECUTIVE OFFICER, reinventedPart of what helps make Ballmer a second-act results account is that he failed to attempt to recreate his corporate life. Rather, he confiscated a chance to obtain the Clippers after previous co-owner Donald Sterling was banned from managing the group or even connecting with the NBA. "Having too many choices can easily bring about choice exhaustion, reverting to default possibilities, or perhaps staying away from choosing altogether," Wilderotter and her co-authors point out, recommending ex-CEOs to instead redefine their reason or identification. (Ballmer is actually additionally founder of USAFacts, a nonpartisan data company.) Expense George, the former Medtronic chief executive officer who modify themself as a management master after retired life, has stated that the previous CEOs that grow are actually the ones who discover means "to develop or nourish things that will definitely outlast them." During the course of our meeting at the arena, Ballmer echoed this view. "A person told me once, 'Nobody ever before really owns a baseball group. You deal with it. You shepherd it, and you carry it along,'" he says. "Intuit Dome may be a bit of what I perform to shepherd this staff throughout. Due to the fact that it's had by the supporters in the end of the day, and we merely take care of it." Are you a single CEO in a second act?Are you a former chief executive officer who possesses located purpose in your 2nd action? Just how did you engage in locating your brand-new identity? Deliver your ideas and also narratives to me at stephaniemehta@mansueto.com. I'll share one of the most convincing instances in a potential newsletter.Read and view even more: 2nd actions Relate to the Most Ingenious Business Honors and also be acknowledged as a company driving the world forward with technology. Early-rate deadline: Friday, August 23.