5.1 Timeline for retirement date
- Set retirement date before announcement
2 or 3 years
5.2 Key guidelines
- Ownership and voting transfer eg. What parts of the business will be transferred over to who? Will the ownership transfer be gradual/partial or all at once?
- Level of involvement of current key leadership after the ownership succession eg. advisor, board membership
- Financial plan eg. Income needs to maintain lifestyle or personal health, tax planning