.Hi as well as invited to Modern CEO! I am actually Stephanie Mehta, chief executive officer and chief content policeman of Mansueto Ventures. Each week this newsletter discovers broad strategies to leadership reasoned discussions along with managers and also business people, as well as coming from the webpages of Inc. as well as Swift Company. If you acquired this bulletin from a pal, you can join to obtain it yourself every Monday morning.Being a CEO in these times is actually tough: Pressures consist of pleasing shareholders, taking care of increasing costs and addressing on-going supply-chain concerns, and producing great work environments. But for several execs, being an ex-CEO shows its very own set of problems. Some problem to manage the reduction of the rewards as well as status that include the work, while others really feel required to adhere to the well-trodden course to exclusive equity or corporate panels." Each year, lots of executives retire from lengthy and also prosperous company jobs. But few are planned for the trip they are about to plunge into," past Frontier Communications CEO Maggie Wilderotter declared previously this year in a Harvard Business Evaluation essay, penciled with career train Rick Smith as well as headhunter Dennis Carey.Life beyond MicrosoftOne previous business big shot that seems to be to have discovered his ground is actually past Microsoft CEO Steve Ballmer. Ballmer acquired the Los Angeles Clippers basketball crew for $2 billion in 2014 and also merely unveiled the team's brand-new home, the Intuit Dome. (Quick Business calls it "Steve Ballmer's $ 2 billion recreation space for Los Angeles Clippers supporters.") The staff and arena have actually provided Ballmer a feeling of function that possesses, in some ways, overshadowed his experiences at the technician titan. "I've worked on a bunch of products over the course of my job at Microsoft, and I've loved all of them all," Ballmer informed me during the course of an interview this month at Intuit Dome before a reader that featured participants of the Youthful Presidents' Company in addition to building and construction laborers who assisted develop the facility and also their families. "But ... in the advancement of this particular building, I probably had a clearer scenery of what I would like to carry out, and also I possess one of the most satisfaction, not just because it turned out well, yet [because] it is actually an investment in the area, also." Intuit Dome has actually quite been actually a passion project for Ballmer, who looked for to guarantee that all enthusiasts possess a superior knowledge. Every seat is actually designed along with very easy accessibility to concessions and also shower rooms, phone billing abilities, and also sufficient leg area, regardless of ticket price.Ballmer's significant assets are actually repaying. The Clippers won 51 games in the 2023-2024 time, as well as ended up fourth in the NBA Western Event. (The Dallas Mavericks dealt with the crew from the playoffs.) And also Ballmer repeatedly ranks as one of the leading NBA managers in supporter polls.He is actually a not likely shining example for post-CEO lifestyle. His retirement life from Microsoft in 2014 after 34 years at the provider and thirteen years as chief executive officer was actually emotional and tangled up. Though earnings virtually tripled during the course of his tenure, the assets generally went stale, as well as the company skipped the option to end up being a player in mobile devices as well as web companies. Under the gun coming from the company's board, Ballmer sought to renew the firm just before essentially making a decision he was not the very best person to move Microsoft ahead. A reporter that recorded his departure coming from Microsoft explained him as "incredibly sad to leave the provider." CHIEF EXECUTIVE OFFICER, reinventedPart of what produces Ballmer a second-act results tale is that he really did not choose to recreate his business life. Somewhat, he took a chance to get the Clippers after previous co-owner Donald Sterling was banned coming from managing the team or even relating to the NBA. "Having a lot of selections may lead to choice fatigue, reverting to default alternatives, or maybe staying away from choosing entirely," Wilderotter as well as her co-authors mention, urging ex-CEOs to instead redefine their objective or identification. (Ballmer is additionally creator of USAFacts, a nonpartisan data business.) Costs George, the former Medtronic CEO that modify themself as a leadership expert after retirement, has actually claimed that the former Chief executive officers who thrive are the ones who discover methods "to create or nurture things that will definitely outlive them." Throughout our meeting at the field, Ballmer echoed this conviction. "Somebody informed me the moment, 'Nobody ever before actually has a baseball group. You deal with it. You shepherd it, and also you carry it along,'" he claims. "Intuit Dome can be a small amount of what I carry out to shepherd this staff along. Considering that it's possessed due to the enthusiasts at the end of the day, as well as we only look after it." Are you an one-time CEO in a 2nd act?Are you a previous chief executive officer who has discovered reason in your second action? Exactly how did you deal with discovering your new identification? Deliver your understandings as well as anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most convincing instances in a potential newsletter.Read and enjoy a lot more: 2nd process Put on one of the most Ingenious Providers Honors and also be acknowledged as an institution driving the world ahead via innovation. Early-rate deadline: Friday, August 23.