When it comes to CEO transitions, boards should be prepared for the “hit by a bus” scenario. But what about the other side of the spectrum (i.e., a planned departure of a long-tenured CEO)? If you have the luxury of time, items to think about include:

• How should boards navigate the timing provisions of the compensation plan?

• What are the roles of the outgoing and incoming CEOs?

• What are the potential investor implications of a “goodbye kiss” for a retiring CEO?