The $619 million Leominster Credit Union in Leominster, Mass., said Friday it has accepted the immediate resignation of its president/CEO, Paul Gilbody, after less than six months on the job.
"(Board Chairman Anthony) Gasbarro indicated that Gilbody, who was named to the position in August 2012, resigned on amicable terms," the 51,800-member credit union said in a news release.
Senior Vice President Carol Southworth, who has been with the credit union since 2011, was named interim president/CEO while a search for a permanent successor is conducted, Leominster CU said.
"We have every confidence that the management of the credit union will be in good hands under Carol's leadership, and that she has the full support of LCU's board and executive management team," Gasbarro said.
Gilbody was a 25-year bank veteran when he was hired away from Bay State Savings Bank in Worcester, Mass., where he was executive vice president and chief operating officer. He also had been a vice president at Fleet Bank.
Southworth, who has been in charge of Leominster CU's seven branches and call center, financial education and security, also is a former Fleet Bank manager and a 20-year financial services veteran. He had been hired to replace Gordon Edmonds, who retired after five years in the credit union's top job.
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