What comes after life as a CEO?

• Author: Liu, Betty
• Position: THOUGHT LEADERSHIP

From Work Smarts by Betty Liu. Copyright [c] 2014 by the author. Published by John Wiley e, Sons (www.wiley.com/business).

ANNE MULCAHY, the former CEO of Xerox, joked that private equity is the place where CEOs go to die. "I said that's the one thing 1 won't do," she said. "That's like a near-death experience going into private equity for a retired CEO."

She raised an interesting point. What happens after you've been king or queen of your domain?

Many of us are happy to retire into a quiet life, have the freedom to travel or pursue our hobbies and spend time with our families. But CEOs, leaders, driven type-A personalities are a little different; instead of going from zero to 60 everyday, they're suddenly on the bus again when they leave the top job. Much was made when Mitt Romney, the Republican presidential candidate, saw his security detail disappear overnight once he lost the election to President Barack Obama. Days later, a photo emerged on the Internet of Romney pumping his own gas.

When I ask some CEOs about life after the office, one didn't even want to contemplate it. Another mentioned a welcome relief of being able to play golf and hang around with family and friends whenever he chose. Several did not rule out another job in the future, albeit at a smaller company or a startup. And almost all joined boards or became advisers to, yes, private equity firms. Warren...