Greylock CEO, Volunteer Resign Amid Investigation Into Assault Charges
PITTSFIELD, Mass.-Angelo Stracuzzi, the well-known CEO of Greylock FCU, has resigned as president of the $1.2-billion CU, in the wake of an investigation into his parole-which was being overseen by a fellow board member-on misdemeanor assault charges.
The credit union cited Stracuzzi's failure to disclose his out-of-state criminal record as the reason for his removal.
The move comes one week after Stracuzzi and fellow longtime board member Clifford J. Nilan resigned their Greylock director positions amid a probe by the Massachusetts Probation Department into questions surrounding Stracuzzi's 2005 probation case. Nilan, a Greylock board member since 1994, is probation chief for Berkshire Superior Court.
Stracuzzi has been with the credit union since 1992 and has been CEO since 2003.
The board of directors of Greylock appointed Marilyn Sperling, a senior vice president, to serve as CEO on an interim basis.
Massachusetts probation officials initially said Stracuzzi was supervised by Nilan after Stracuzzi's case was transferred from Maine to Massachusetts. But Stracuzzi said he never met with a probation officer during his year-long probation sentence-an apparent violation of the court-ordered probation terms issued by a Maine judge. Credit union officials said they only learned recently of the criminal case against Stracuzzi.