Mike Kelly and PSCU, a leading nationwide payment CUSO, have parted ways, effective immediately, the CUSO said in an announcement Monday morning.
Tom Gandre, COO of the St. Petersburg, Fla.-based PSCU, will take the helm temporarily while the organization launches a search for someone to take the position, according to the CUSO.
"Our board has every confidence in Tom's leadership, our executive team and our world-class employees," Mike Valentine, chair of PSCU's board of directors, said. "PSCU will continue to focus on creating new core payment products and services that deliver efficiency and enhanced capabilities to our member credit unions."
He continued, "This transition is an opportunity to assess how PSCU can make an even stronger impact and deepen our relationships with our member credit unions – and ultimately their members," said Valentine. "As the credit union industry continues to evolve, PSCU will continue to meet the changing needs of our member credit unions."
Valentine told CU Times that the organization anticipated a six to nine-month executive search.
"I hope it doesn't go as long as 12 and I would be ecstatic if it were less than six," he said.
Kelly, shown at left, was PSCU's first CEO after the death of its founder, David Serlo. He had served in the position since May 2011.
Valentine declined to offer comment on what might have led to Kelly's departure, but in response to a question about whether Kelly had struggled to adapt to an organization strongly formed by Serlo, he said PSCU looked forward to adopting positions that were visible in the credit union community.
Until today's announcement, Gandre headed up PSCU's growth, business and operations activities for PSCU. In his previous role as a member of the executive team and as COO, Gandre led the cooperative's operations to include card & member services, information technology, product development, vendor management, CU Learning, innovation, fraud, collections and the contact centers.
Prior to joining PSCU, Gandre was SVP of product development and management at First Data Corp. He graduated from the University of Wisconsin with a degree in management information systems.
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