HERNDON, Va. — Though it may come as a surprise to many in the industry that Juri Valdov, president/CEO of Northwest Federal Credit Union, will be stepping down after nearly 24 years at the helm, the longtime executive said the transition to a new internal role has been a fixture of the succession plan for some time.
Valdov announced on Oct. 25 that effective Jan. 1, 2008, he will move a few rungs down the ladder to become senior vice president for external affairs at the $1.5 billion financial institution. Gerrianne "Winky" Burks, who has been at Northwest for 25 years in several capacities including chief operating officer and has been Valdov's "number two" person, has been tapped the new president/CEO.
"At a certain time, I knew I would be stepping down," Valdov said. "As CEO, it is my responsibility to make sure there is a succession plan. Over the years, we've built people up and thought Ms. Burks was more than capable to take over."
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