He has apparently retired as the Kingdom's Royal Sorcerer, his son succeeding him, and he and his wife, Winifred, are living in Mystic Meadows, a retirement home for sorcerers. However, he left his son a painting of himself and Winifred that enables them to come to Cedric any time.
Cedric's father, Goodwyn the Great, was the Royal Sorcerer of Enchancia before him, and was considered the greatest sorcerer the kingdom has ever had, saving King Roland I's life many times (nine-and-a-half) to the point where King Roland II and Cedric judge all magical performances using him as the standard they are expected to match. While Goodwyn was honest and moralistic, his wife Winifred, Cedric's mother, was vain and ambitious while doting on her son, encouraging Cedric to make the wrong decisions. Cedric seems to get along better with his mother while having a more hostile relationship with his father. This is likely due to the fact that his mother coddles him, while his father tries to push him in the right direction. His relationship with his father may also be the result of how often Cedric is compared to him and frequently said to not be as good as he was.
Role in the series
In the episode, "Mystic Meadows" it's shown that Goodwyn has a very high opinion of himself, due to him gaining so many awards and accomplishments. Because of this, he had a very low opinion of his son's magical skill. He would constantly correct his stance or interrupt Cedric to help him with his magic, resulting in Cedric messing up the spell. Winifred frowned upon this. Goodwyn showing affection for Sofia in "Cedric's Apprentice" turned out to be useful when Sofia pointed out his fault since it got Goodwyn to step back and let Cedric show his true power. In the end, he gave the Family Wand to Cedric, dubbing him "Cedric the Sensational," much to Cedric's delight.
In, "Day of the Sorcerers", it's revealed that Goodwyn favored his daughter and she could do nothing wrong even when she made mistakes. The reason was revealed in the episode, "Through the Looking Back Glass". During his daughter's grand entrance to her Sorceress Ball, something went wrong and Cordelia ended up with messed up hair and she blamed her brother, which in turn made everyone called him a bungler and made everyone at the party, including Goodwyn, believe he couldn't do magic right.