Former Chief Sustainability Officer Mary Draves shares insights about executive transition.
What happens after you’ve had a long and successful corporate career? Here’s a predictable response: Join a board, relocate to a warm climate, play some golf. Not a bad way to live, and the combination may be perfect for some.
But for others, after years in senior leadership, it can be tough to picture what’s next. Combine the lack of clarity with stress and uncertainty that can come with change, and it’s easy to see why some leaders delay making a move. That’s because the idea of stepping away from an executive role comes with a dark side, where life can feel directionless, and there’s a struggle to let go. Harvard professor Arthur Brooks calls this the striver’s curse, where some of the highest achievers and most successful people feel the least happy as they age, retire, or move on from their leadership roles.
The good news is that this isn’t true for everyone, including Mary Draves, former Chief Sustainability Officer for Dow, the global materials science company. After a rewarding career, Mary made the personal decision to move on from her executive role in 2022. Why the change? “I loved the job, the people, and the company, and after 30 years, I was ready for something new.”
It’s one thing to know you’re ready for a change, but it’s another to make it happen. Draves shares what it was like during those first few weeks and months after moving on from her role at Dow, and the mindsets that helped her create success:
Resist the Temptation to Have a Plan Right Away
The reactions were mixed when Draves shared her decision with family and friends. “Some people thought I was crazy. In general, everyone was well-meaning, but I must have been asked a hundred times about what I was planning to do next.” The nonstop questions tempted Draves to default back to what she describes as her “work mode” of creating plans and timelines. “I told myself that no matter what, I was not going to rush into anything, even though it would have felt good to tell people that I had a plan,” says Draves.
Doing Less is Harder Than It Looks
“I’ll never forget those first weeks after I left my company. It was a huge adjustment. I spent years at work traveling or in back-to-back meetings, so going from that schedule to sitting on a beach all day wasn’t an option.” Not surprisingly, Draves recognized almost immediately that she’d have to make changes gradually. “I couldn’t go from 300 miles per hour to zero. I had to slowly wean myself off that pace and admit that I had been an adrenaline and intensity junkie for years.”
She also spent much more time on her own: “I was so used to being with people all the time, it was a complete shock to my system to spend all this time alone.” She recalls the first time her husband went out of town on a business trip for two days: “I had spent years on planes and traveling to cities by myself, but being alone in my house was totally new to me. It was tough.”
You’re Not Just Leaving a Job, You’re Saying Goodbye to Your Former Life
It wasn’t long before Draves realized that her decision to move on from her role was something much bigger than a career move. “Happiness after a corporate career starts when you stop trying to hold on to who you were. That chapter is over,” she points out. “I always hated the word ‘executive,’ but the truth is that when you spend years in a senior role, you get used to being the one in charge. It’s very easy to believe that your entire identity is the job. But at some point, the job will go away.” It’s why Draves took time to reflect on her new identity and future possibilities: “I believe in coaching and therapy and having a thought partner to understand how to create a new vision for yourself.” It’s advice that others recommend, suggesting that CEOs hire a coach or therapist at least 18 months before retirement or stepping down.
Be Willing to Put Yourself Out There
As someone who grew up in a family of entrepreneurs, the idea of building an advisory and consulting practice leveraging her expertise held a particular appeal to Draves. “When I left Dow, I received offers to work full time, join different for profit and non-profit boards, but they weren’t the right fit for me. I always loved business and helping other people achieve success in their business, and decided to pursue that path.” Her advice for others who may want to do the same? “Be willing to put yourself out there, and be comfortable being a beginner again. Keep it simple, make a list of your areas of expertise, and go for it.” For Draves, this meant asking questions to her network to get feedback about her approach, her pricing, and more. Today, Draves has a select roster of clients, and dedicates a portion of her time for pro bono and nonprofit work, and is happy with the combination of activities: “It’s incredibly satisfying when you see how your insights helped your clients make money, win deals, and achieve success.”
Create Value from Who You Are, Not Who You Were
A year after leaving Dow, Draves reflects on what life was like then and now. “It’s hard to unplug after spending years at one company, and it’s been a process of letting go and shedding that old life. But the more I do that, the more I create time and space for new things.” Today, Draves divides her time between her consulting practice, mentoring younger women, and becoming more active in political and social issues. Best of all, Draves sees herself and her contribution to the world in a new way: “My value today comes from who I am, not who I was, and I’m excited to see where it goes from here.”
