Clifford C. Dias, CEO of Portland Teachers Credit Union, said he will retire in May 2006.
Dias, 56, has been with PTCU since 1995, and is only the fourth CEO in the CU's 73-year history.
Dias said he is announcing his retirement well in advance of the actual date in order to assist with the transition of responsibilities to a new CEO. PTCU Chair Steve Gray credited Dias with overseeing an improvement from a net loss of $4.2 million in 1998 to a projected net income of $22 million in 2005.
Dias earned some notoriety in the summer of 2004 after local media reported Dias was earning annual compensation of $1.6 million, more than twice the salary of the next highest paid CEO in the state.
"My immediate plan for retirement is to work with kids under nine years old in the development of their athletic skills and abilities. The reason I set this age limit is my initial experience is that kids under nine are interested in learning, while kids over nine are more interested in winning," said Dias.
