.Hi and also welcome to Modern chief executive officer! I'm Stephanie Mehta, CEO as well as main satisfied policeman of Mansueto Ventures. Weekly this newsletter checks out inclusive approaches to leadership drawn from discussions with execs and also business people, and also coming from the webpages of Inc. as well as Fast Business. If you received this e-newsletter coming from a good friend, you may enroll to get it on your own every Monday morning.Being a chief executive officer these days is difficult: Stress consist of pleasing shareholders, managing increasing prices as well as addressing continuous supply-chain issues, as well as producing excellent offices. But for several executives, being an ex-CEO offers its personal collection of obstacles. Some battle to deal with the reduction of the perks and standing that include the task, while others experience required to adhere to the well-trodden road to private equity or corporate boards." Every year, hundreds of executives relinquish long and also prosperous corporate jobs. But handful of are prepared for the quest they are about to embark on," previous Outpost Communications chief executive officer Maggie Wilderotter stated previously this year in a Harvard Business Testimonial essay, penned with occupation coach Rick Johnson as well as talent scout Dennis Carey.Life beyond MicrosoftOne previous corporate big shot that seems to be to have located his ground is former Microsoft chief executive officer Steve Ballmer. Ballmer acquired the Los Angeles Clippers baseball crew for $2 billion in 2014 as well as just unveiled the team's new home, the Intuit Dome. (Fast Business calls it "Steve Ballmer's $ 2 billion play area for Los Angeles Clippers followers.") The crew and also sector have provided Ballmer a sense of purpose that has, somehow, darkened his adventures at the tech giant. "I've dealt with a ton of products over the course of my career at Microsoft, and also I have actually adored them all," Ballmer told me throughout an interview this month at Intuit Dome facing an audience that featured members of the Youthful Presidents' Institution in addition to development laborers that helped develop the facility as well as their loved ones. "But ... in the progression of the property, I most likely possessed a more clear perspective of what I wished to perform, and also I possess the absolute most satisfaction, certainly not just because it turned out well, yet [because] it's an assets in the community, too." Intuit Dome has actually quite been a passion project for Ballmer, who sought to make certain that all fans have a fee knowledge. Every chair is designed along with simple access to giving ins as well as washrooms, phone demanding functionalities, as well as enough lower leg space, no matter ticket price.Ballmer's significant assets are paying off. The Clippers succeeded 51 video games in the 2023-2024 time, and also completed fourth in the NBA Western Conference. (The Dallas Mavericks dealt with the crew from the playoffs.) And Ballmer regularly positions as one of the best NBA proprietors in enthusiast polls.He is actually an extremely unlikely shining example for post-CEO lifestyle. His retirement from Microsoft in 2014 after 34 years at the provider as well as thirteen years as CEO was psychological and filled. Though profits virtually tripled during his period, the assets essentially stood still, and also the provider skipped the chance to end up being a player in mobile devices and web services. Under the gun coming from the business's board, Ballmer found to revamp the company before ultimately making a decision he was not the most effective individual to move Microsoft ahead. A media reporter that chronicled his separation from Microsoft defined him as "very depressing to leave the company." CHIEF EXECUTIVE OFFICER, reinventedPart of what makes Ballmer a second-act effectiveness tale is actually that he didn't try to reproduce his corporate lifestyle. Instead, he confiscated an opportunity to obtain the Clippers after previous co-owner Donald Sterling was actually prohibited from running the staff or associating with the NBA. "Possessing excessive selections can trigger selection tiredness, changing to fail choices, and even staying clear of deciding completely," Wilderotter and also her co-authors state, encouraging ex-CEOs to as an alternative redefine their objective or even identity. (Ballmer is also owner of USAFacts, a detached information business.) Expense George, the previous Medtronic chief executive officer that modify themself as a management guru after retirement life, has actually pointed out that the previous Chief executive officers who grow are the ones who locate techniques "to develop or support traits that will definitely outlast all of them." During our meeting at the stadium, Ballmer resembled this feeling. "Somebody told me once, 'No person ever actually has a basketball group. You look after it. You shepherd it, and you deliver it along,'" he states. "Intuit Dome can be a little bit of what I perform to shepherd this team along. Given that it is actually possessed due to the supporters by the end of the time, as well as our company just care for it." Are you an one-time chief executive officer in a second act?Are you a former chief executive officer that possesses discovered function in your second act? Exactly how performed you tackle locating your brand new identification? Send your insights and also anecdotes to me at stephaniemehta@mansueto.com. I'll discuss the most convincing examples in a potential newsletter.Read and view much more: 2nd acts Apply to the Most Ingenious Firms Awards and also be actually acknowledged as a company driving the globe ahead via development. Early-rate deadline: Friday, August 23.