The purpose of this study for ex-managers who stepped down the positions based on the position retirement policy was to define the re-adaptation process to the current new roles and exploring process to the next career, and examine the interrelationship between these processes. A one-year longitudinal semi-structured interview was conducted with 17 ex-managers in major manufacturing industries and the data collected from each participant were analyzed according to the modified grounded theory approach. As a result, 56 concepts, 4 subcategories, 15 categories, and 8 category groups were created based on the data. The main findings are as follows: Ex-managers are trying to redesign their next careers with moving their thoughts and emotions back and forth about their past experiences as managers, their current new roles as ex-managers, and their future careers to explore. The most important temporal perspective of the past, present and future is the current new roles after stepping down their positions. Re-recognizing one’s own value in the current new roles is the driving force of the next career development. However, stepping down the positions based on the position retirement policy will be able to make the feelings toward the company and the organizations negative and reduce the motivation to work and career development.
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