Discovery: Dont Let MergerBe CUs Succession Plan
LAS VEGAS - (06/26/06) Few credit unions have awritten succession plan, and with 60% of CU CEOs and many seniormanagers scheduled to retire in the next 10 years: there isgoing to be a lot of turnover, assessed Joe Tripalindirector of executive benefits for CUNA Mutual Group. Tripalin wasjoined by Gene Mandarino, management training director forMiddleton, Wis.-based CU consultancy HRValue Group, during aneducational session at CUNA Mutual Groups Discoveryconference here Friday. A succession plan helps the creditunion maintain stability when it needs it most, Tripalinsaid. When a good CEO leaves, the credit union will want tostill provide service. Mandarino detailed the differencesbetween planned successions and emergency successions, such as whenthe CEO is removed by the board.