.Greetings and welcome to Modern chief executive officer! I'm Stephanie Mehta, chief executive officer and also main material police officer of Mansueto Ventures. Each week this newsletter discovers inclusive strategies to management drawn from chats along with executives as well as entrepreneurs, as well as coming from the pages of Inc. and Swift Business. If you obtained this e-newsletter coming from a pal, you may register to get it yourself every Monday morning.Being a CEO at presents is actually difficult: Pressures include delighting shareholders, handling rising costs and also addressing recurring supply-chain problems, as well as developing excellent work environments. However, for numerous executives, being an ex-CEO provides its very own set of problems. Some problem to handle the loss of the perks and standing that include the job, while others experience required to comply with the well-trodden road to private equity or corporate panels." Annually, lots of managers relinquish lengthy as well as successful company jobs. Yet couple of are actually prepared for the quest they will plunge into," past Outpost Communications chief executive officer Maggie Wilderotter declared previously this year in a Harvard Company Assessment essay, penciled along with profession instructor Rick Smith and talent scout Dennis Carey.Life past MicrosoftOne past company tribal chief who seems to have discovered his ground is previous Microsoft CEO Steve Ballmer. Ballmer bought the Los Angeles Clippers basketball team for $2 billion in 2014 as well as only unveiled the staff's new home, the Intuit Dome. (Swift Company calls it "Steve Ballmer's $ 2 billion playground for Los Angeles Clippers fans.") The crew and also sector have given Ballmer a feeling of function that has, somehow, darkened his expertises at the technology titan. "I have actually dealt with a considerable amount of products throughout my profession at Microsoft, as well as I've loved them all," Ballmer told me during an interview this month at Intuit Dome in front of a viewers that consisted of participants of the Youthful Presidents' Association and also building and construction workers who assisted create the establishment and their loved ones. "Yet ... in the progression of this structure, I perhaps possessed a clearer view of what I wanted to do, and I have the best contentment, certainly not just because it turned out well, yet [given that] it's a financial investment in the neighborhood, also." Intuit Dome has actually quite been a passion job for Ballmer, who sought to make certain that all enthusiasts have a costs experience. Every chair is actually created with easy accessibility to concessions and bathrooms, phone charging capabilities, and also enough leg space, regardless of ticket price.Ballmer's substantial financial investments are paying off. The Clippers succeeded 51 activities in the 2023-2024 season, and also completed fourth in the NBA Western Conference. (The Dallas Mavericks did away with the group from the playoffs.) And also Ballmer often places being one of the leading NBA proprietors in fan polls.He is an extremely unlikely role model for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the business and 13 years as CEO was actually psychological and also tangled up. Though revenues almost tripled during the course of his tenure, the assets basically went stale, as well as the business missed the opportunity to end up being a gamer in mobile devices and also internet companies. Under the gun coming from the firm's panel, Ballmer looked for to revamp the company before ultimately making a decision he was actually certainly not the best person to move Microsoft forward. A media reporter who narrated his departure from Microsoft explained him as "quite unfortunate to leave behind the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what creates Ballmer a second-act excellence tale is that he failed to choose to reproduce his corporate life. Rather, he confiscated a possibility to acquire the Clippers after previous co-owner Donald Sterling was actually prohibited from operating the staff or associating with the NBA. "Possessing excessive selections can easily cause decision tiredness, returning to fail alternatives, or maybe steering clear of deciding altogether," Wilderotter as well as her co-authors claim, recommending ex-CEOs to instead redefine their function or even identification. (Ballmer is actually likewise owner of USAFacts, a nonpartisan information provider.) Expense George, the former Medtronic chief executive officer that recast himself as a leadership master after retirement, has mentioned that the former CEOs who grow are the ones who locate methods "to make or even nourish factors that are going to outlive them." In the course of our job interview at the arena, Ballmer reflected this feeling. "Somebody informed me once, 'No person ever actually has a basketball staff. You handle it. You shepherd it, and you take it along,'" he says. "Intuit Dome can be a little of what I carry out to shepherd this team throughout. Because it is actually possessed by the followers in the end of the day, as well as our experts merely take care of it." Are you an one-time CEO in a second act?Are you a past CEO who has located reason in your 2nd act? Exactly how did you deal with discovering your new identification? Send your understandings and anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the best convincing instances in a future newsletter.Read as well as watch more: second actions Relate to one of the most Impressive Companies Awards and also be actually acknowledged as an association driving the globe forward by means of technology. Early-rate deadline: Friday, August 23.