His father died; the junior partner of the bank retired.
When both partners retire at more or less the same time, the adjustment is often easiest to organise.
A partner retires her broom and makes herself an iced tea.
My first partner might have retired a millionaire or that period's equivalent to one.
See the page in this guide on when a partner retires.
In 1845 he became a partner and Sharpe retired from the practice in 1851.
According to one former partner, when partners retire they receive their equity investment back over a period of 10 years.
As partners died or retired, the Gambinos acquired a controlling interest.
In two the partner above me retired, and I took his place with a third share of the firm.
Will your spouse or partner retire when you do?