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Not the Chosen One


May 2014 – Vol: 37 No. 5
by Diane Franklin

Managing execs not selected for an open CEO slot.

Hand holds a gold starThere’s a reasonable likelihood that your credit union—like many others—will be looking for a new CEO within the next decade. Who will get the job? The current COO, CFO or EVP? Someone from outside?

Regardless of who gets hired, several key executives may have thrown their hats into the ring. Only one could possibly be the successful candidate.

For those in-house candidates who vied for the open CEO slot but were ultimately unsuccessful, a decision looms. Will they continue in their present job or will they decide to look to be CEO elsewhere?

“It depends on the individual candidate and their situation,” says Charles Shanley, executive vice…

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