I don't disagree with your point. To clarify, I was stating that it's expected to hear people leaving following a decrease in responsibility; I was not trying to imply that such change has been necessarily involuntary. It could very well be the other way around, in fact, i.e. a reorg happens as a result of one's intent to retire in the near future.

You do realize that in the world of boardrooms, "retiring" is just the reason somebody gives when they need to save face and they don't want to cause an incident. Incidents typically effect stock prices...

Now, I'm not saying you're wrong, or that he's for sure not actually retiring (he's close age-wise, after all), but I'd argue most retirements aren't.