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Succession Planning: Transformation not Transition

The best criteria for finding your next CEO is finding the best fit between what the credit union must do strategically and the person who can transform the credit union in the near future.

By Russell J. White | Updated on March 18, 2013

In my experience with credit unions that are dealing with a succession situation with their CEO, I frequently hear boards express they are looking for someone just like the retiring president. In the cases where the parting of ways was acrimonious, the boards are looking for the exact opposite of who they’ve had to deal with. Neither is the best approach

The best criteria for finding your next CEO is finding the best fit between what the credit union must do strategically and the person who can transform the credit union in the near future. This transformation is to become even more competitive in this drastically changing environment. In today’s economy and rapidly changing landscape, a transition is no longer enough. Credit unions are going through transformations.

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