I've seen the 3 main scenario's discussed for Urban post retirement

• Stays in a conservative role with the university
• hops back into TV
• Goes on to coach in the NFL or another college program

No one has discussed someone taking Gene Smith's role. Gene Smith has been gunning to move up the NCAA food chain. He's been rumored as a replacement for Jim Delaney as Big 10 commissioner, he has been rumored (unlikely) to be interested in a position at the head of the NCAA. 

It seems reasonable to me that at 54 years old, Urban Meyer and Gene Smith have worked out some sort of 5 year plan, contingent on Gene Smith moving on. This affords Meyer 2 things that he covets, Control and the ability to stay with Ohio State.

This is very speculative without absolutely anything concrete evidence wise, but I like this scenario more than any of the other 3.