Today’s CEOs, including those who have reached what would in previous generations have been considered proper retirement age, are defying F. Scott Fitzgerald’s famous pronouncement about there being “no second acts.” Experienced, accomplished CEOs are in greater demand than ever before by a wide range of enterprises, and may therefore have many appealing options open to them, if they are interested in pursuing them.
It is an issue many CEOs wrestle with: how to do the right thing for one’s company, while also doing right by oneself. When it is time to move on, how can a CEO manage his or her transition to the next phase of life in the most responsible way with the least negative impact on the company?
Methodical planning is nothing new to experienced CEOs, and they should settle for nothing less when it comes to planning for themselves and their future. We recommend a personal “360” as the best place to start before embarking on a new life phase. This exercise begins with some serious self reflection: What am I passionate about? What do I still want to accomplish? In addition, it may be helpful to get an honest assessment of yourself from a range of those close to you, including close friends and business colleagues as well as your spouse.
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