Before You Sign: Your Reference, Announcement and Exit Story

When a senior role ends, the focus tends to fall on the money. How much, when it is paid and what it covers. That matters. But the terms that shape your next role are often the ones that get the least attention.

Who will give you a reference? What will the business say about your departure, and when? What can you post on LinkedIn, and what are you allowed to say in an interview? These questions feel minor in the moment. Three months later, sitting across from a search consultant, they are not minor at all.

The time to sort them out is before you sign. Once the agreement is done, your ability to shape these details drops away. This guide covers what to think about while you still have a say.

First, get proper advice

This is not legal advice, and every exit is different. Before you sign any exit agreement, take advice from an employment lawyer. They can explain what the terms mean for you, what is usual in your situation and what may be open to discussion.

What follows is a list of career matters worth raising with your lawyer and your employer. It is not a list of rights or entitlements. Your lawyer is the right person to tell you what applies.

Why timing matters

Before an agreement is signed, both sides want the exit to go smoothly. The employer wants certainty and a clean handover. You want a fair outcome and a strong platform for what comes next.

That shared interest creates room to agree on practical details. After signing, much of that room disappears. The business moves on, the people who agreed to things may leave, and memories fade.

A pattern I see often is a senior leader who signs quickly to get it over with, then spends months trying to fix a reference or an announcement that could have been settled in an afternoon.

Your reference or referee

References carry a lot of weight in executive hiring. A search consultant or board will usually want to speak to someone who managed you recently.

Before you sign, think about:

• Who will act as your referee, and whether they have agreed

• Whether there is agreed wording for a written reference or a statement of service

• What happens if your referee leaves the organisation

• How reference requests will be handled, and by whom

If the person you reported to is part of the reason you are leaving, this needs care. You may be able to agree on a different referee, such as a board member or another executive who knows your work. Our guide to executive references covers how to choose and brief your referees.

The announcement: wording and timing

Most senior departures are announced in some way. Internally, to the team and the wider business. Externally, sometimes to clients, suppliers or the market.

Two things matter here: what is said and when it is said.

The wording. A single line can shape how people read your exit. “Has decided to pursue other opportunities” reads differently from “has left following a restructure of the executive team”. Neither is right or wrong, but you should know which one is going out.

The timing. If you want some time to plan before the news spreads, the date of the announcement matters. If you would rather it goes out quickly so you can start conversations, that matters too.

Ask to see the wording before it is released, and agree on the date.

Internal and external messaging

The formal announcement is only part of it. People will ask questions. Your team, your peers, your auditors, your bankers and your contacts in the market will all want to know what happened.

It helps if you and the business are saying broadly the same thing. Agree on a short, neutral explanation that both sides can use. It does not need to cover every detail. It needs to be accurate, consistent and something you are comfortable repeating.

This is also the start of your exit story. The line you agree on now is close to the line you will use in interviews.

Worked example: the same exit, two stories

This is an illustrative example, not a client story.

Before. A CFO leaves after a merger. Nothing is agreed about messaging. The internal email says she “has left the business, effective immediately”. Her former team hear rumours. Her LinkedIn still shows the role. When a search consultant calls, she gives a long, careful explanation that sounds defensive.

After. The same CFO, same merger. Before signing, she agrees that the announcement will say her role was not part of the combined structure, and that she will stay on for a short handover. She agrees who will act as her referee. She updates LinkedIn on the same day as the announcement. When the search consultant calls, she says: “The merger created one CFO role, and the other CFO took it. I led the finance side of the integration and handed over in good shape.” It takes ten seconds.

The facts are the same. The second version leaves her in control of the story.

LinkedIn timing

Your LinkedIn profile will be one of the first places people look. Changing it too early can cause problems if the exit has not been announced. Changing it too late can make you look like you are hiding something.

Agree with the business when you can update your profile, and plan what you will change. Many leaders update on the day of the announcement, or soon after. Our guide to updating LinkedIn after a redundancy covers what to change first.

Return of property and handover

Practical details can cause friction late in the process. Laptops, phones, cars, access cards and documents all need to be returned or dealt with.

Think about:

• What you need to return and by when

• Whether you can keep your mobile number

• How you can retrieve personal files, contacts or photos

• What handover you will provide, and to whom

These are small points, but disputes over them can sour an otherwise smooth exit.

Confidentiality and non-disparagement

Many exit agreements include clauses about confidentiality and what each side can say about the other. The details vary, and this is an area where your lawyer’s advice matters most.

In general terms, it helps to understand:

• What you can and cannot say about the reasons for your exit

• Whether any restrictions apply to both sides or only to you

• How these clauses might affect what you say in interviews or to referees

You want to be able to give a clear, honest account of your exit to a future employer without breaching anything you have agreed. Ask your lawyer how the terms apply to that.

Outplacement and career support

Some exit agreements include outplacement or career transition support. If it is on offer, ask what it includes and how long it lasts. If it is not, some executives raise it as part of the discussion.

Outplacement varies a lot at senior level. Some programs are very good. Others are designed for a wide group and may not suit a senior finance leader. It is worth knowing which you have before you rely on it.

Common mistakes

Signing too fast. Relief is a strong feeling. Take the time to get advice and think through the details.

Focusing only on the payment. The money matters, but the reference and the story will affect your next role for years.

Assuming your manager will be your referee. Ask. Then confirm what happens if they leave.

Not seeing the announcement. A single phrase can shape how the market reads your exit.

Having no exit story. If you cannot explain your departure in two or three sentences, you are not ready for the first recruiter call. Our piece on how to explain a senior redundancy in an interview can help.

A checklist before you sign

• I have taken advice from an employment lawyer

• I know who my referee is, and they have agreed

• I have seen and agreed the announcement wording and date

• I have a short, neutral explanation that the business and I will both use

• I know when I can update LinkedIn

• I understand what I can and cannot say about my exit

• I know what property to return and how to keep what is mine

• I know whether outplacement or career support is included

The part of the exit that follows you

The payment is spent and forgotten. The reference, the announcement and the story stay with you into every conversation about your next role. Sorting them out before you sign is one of the most useful things you can do. For what to do once the agreement is done, our guide to the reset after a senior redundancy covers the next stage.

If you want help shaping your exit story and planning what comes next, see how I approach executive career transitions.

If you are a senior leader working through an exit right now, book a complimentary Clarity Session and we will look at how to present your departure and set up your next move.