Hello, I'm Keith and happy to help you with your question.
Are both you and Nik leaving the company? On your basic planning any employee benefit trust would control the company which could leave him out in the cold, effectively up the creek without a paddle. He could be removed as a director by the trustees.
Apologies for not replying was waiting for Nik to make up his mind as to what he wants to do??Retire or stay on?He is still undecided-Would the scenario change much if he did decide to retire?