A retirement age of between 58 and 62 years, leaves a decade for active engagement. Some prefer to use this freedom, from regimented employment, to pursue personal interests and leisure. Still others seek to remain professionally involved by lending their skills and knowledge, acquired over decades, for the benefit of others. It is a win-win, where the individual monetises her experience and an organisation, gains from it in a cost effective manner.
Lending time to boards of other companies is enriching both professionally and financially. CEOs and function heads could actively pursue these opportunities - not necessarily with large public listed companies, but rather with the mid-sized owner managed ones. The attached paper explains. I hope you would find it in order.