Michael Sauer has been named the new president/CEO of $1.8 billion Texans Credit Union effective immediately after serving in an interim role since January.

Sauer succeeds David Addison, who resigned on Jan.31 after six years of service. A member of Texans' board since 1992, Sauer served as chairman from 2002 to 2006 and has held other board positions such as vice chairman, treasurer and secretary. In addition to his career at Texans, Sauer served as the executive vice president and chief operating officer for a commercial products company and earlier as a vice president for a global manufacturing company.

Texans said it considered "several other, very well qualified individuals" before determining that Sauer was the best candidate.

"With his long and distinguished service to Texans Credit Union, and extensive business experience, Mike Sauer is eminently qualified to lead the organization going forward," said Judith Moore, chairman of the Texans' board of directors.

Sauer said he is up to the challenge of heading Texans, which is trying to emerge from a $46 million loss in 2008.

"We have a seasoned management team and staff in place to improve and grow Texans in a direction that will meet the expectations of our members and the communities we serve," Sauer said. "I'm looking forward to meeting today's challenges and future opportunities."

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.