The $821 million TwinStar Credit Union of Lacey, Wash., said Friday it is in final stages of a long-running succession plan in which Jeff Kennedy, its president, will formally take over July 1 as CEO.
Kennedy, who has held the No. 2 management slot since last January, will succeed the retiring Marshall Ellison, who is leaving after 17 years with the credit union.
Ellison made his retirement intentions known more than three years ago to ensure, as he put it in the 2011 annual report, a seamless transition for the TwinStar membership.
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