Setting boundaries
When I stepped down as CEO of LabCorp, my priority was clarity—for the company, for my successor, and for me. LabCorp is headquartered in a smaller city, Burlington, NC, and I had been there for nearly 20 years. My successor generously offered me an office in the same building to use in retirement, but I knew that wouldn’t serve anyone well. The team needed to look forward, not back. So, I moved to a satellite location 50 miles away, closer to where I now live in Durham (I think they’ve forgotten I’m still here!).
That clean break was important, for LabCorp and for me. It was a conscious signal to the team that there’s a new CEO in charge. It was also an opportunity to give myself the space to start thinking differently about what came next. Then, just a few months later, the world shut down.
An unexpected pause that became a gift
Heading straight from retirement into COVID was strange timing. Our younger daughter was in high school, and our older daughter was in college. Suddenly, both were home again. We probably spent more time together in those 15 months than we had in years. Had I still been at LabCorp, I would’ve been working around the clock. Instead, I was walking the dog, eating dinner with my family, and rediscovering what it felt like to slow down. It was a pause I didn’t know I needed.
From somebody to anybody
Every CEO I know feels it: one day you’re somebody, and the next day you’re not. The inbox empties. The investor dinners disappear. The phone stops ringing all the time. You don’t realize how much of your identity is tied to your role until you’re no longer in it. It’s not easy to go from being in constant demand to … being available. But over time, I found that adjustment gave me the ability to decide who I wanted to be and what I wanted to do, outside of a title.
Redefining work on my terms
About a year in, I joined a middle-market PE firm as an operating partner. It was a great experience, but not the right fit. Stepping away helped me realize—I didn’t need to work for anyone anymore. I wanted to work with people and companies that inspired me, so I started my own consulting practice. I tell anyone considering consulting: form an LLC. It gives you structure, separation, and a little protection. And don’t underestimate the power of a good business card.
At first, consulting projects came through my existing professional network. Some evolved into board roles, and before long, I was serving on public, private, and nonprofit boards. I enjoy the variety, but more than that, I love the chance to mentor first-time CEOs and younger leadership teams. It’s deeply rewarding to help others learn from both the wins and the mistakes.
Know when enough is enough
Looking back, I’ll admit I took on too much, too soon. Although I enjoy the work, some of the commitments have lasted longer than planned. I learned that a three-year commitment can easily turn into six. That’s been frustrating at times, mostly because it limits the new opportunities I can explore.
Today, I’m disciplined about not adding more. It’s tempting, but I remind myself: if you can’t do it justice, don’t do it. Now my filter is simple: work with people I like, on things I care about, that stretch me beyond the world of healthcare diagnostics.
Betting on yourself
I always tell people: most careers go off track because you bet against yourself instead of on yourself. When I first retired, I worried about staying relevant. Looking back, I was definitely betting against myself. Had I trusted that opportunities would come (and they have), I might have been more patient and selective early on.
My advice now? Don’t despair if things aren’t moving at the pace you want. Unlike the old days when everyone came to you, you now have to reach out, follow up, and create your own momentum. But it’s absolutely doable. You have to do more than 50 percent of the work to generate interest.
Building a new network
Networking looks different in this season. As CEO, people sought me out. In retirement, the work flips—you have to reach out to them. That’s where MyNextSeason made a big difference. My advisor and the team helped me create a networking strategy—who to talk to, in what order, and how to ask for introductions. That structure mattered. Most of the meaningful board and consulting roles I’ve taken on have come through relationships. Now, I try to pay that forward by connecting others whenever I can. That’s how you build a true network—not just of contacts, but of reciprocity.
A life that’s full, not overfull
I’m very intentional about maintaining balance. In addition to consulting, I sit on a couple of public boards and a handful of private ones. I read constantly to stay current on healthcare trends. I still go into my office most days—partly for focus, partly so my dog doesn’t bark to join my Zoom calls. I also make time for what matters most: traveling with my wife, visiting our daughters who are out in the world successfully adulting, and continually trying to improve my mediocre golf game.
Tomorrow is not promised
The biggest change, honestly, is perspective. As a CEO, you have to play the long game. There was always next year, next quarter, next project. Not anymore. Tomorrow isn’t promised. So the things that matter—time with family, the trips you’ve been meaning to take, the projects that bring you joy—do them this year. Don’t wait for the perfect time. The perfect time is now.