MADISON, Wis. — CUNA Mutual CEO Jeff Post plans to retire from the position at year-end and will be succeeded by Robert Trunzo, president of the CUNA Mutual subsidiary CMFG Life Insurance Co.
Post told Credit Union Journal he is leaving for reasons that are personal and are not business or health-related. "I put this boat into the stream and am very comfortable with the decision," Post said.
Post has been president of CUNA Mutual for the past eight years, after having previously served as president/CEO of Fireman's Fund Insurance Co., a part of Germany's Allianz Group. Before that, he was with St. Paul Cos.
For Post, the position at CUNA Mutual was a return to Madison, having earned his bachelor of business administration degree (majoring in actuarial science) at the University of Wisconsin in 1981.
According to Post, CUNA Mutual's board has been quietly conducting a search for a replacement for the past year after Post indicated his interest in vacating the position. He said he will stay on with CUNA Mutual through July 2014 in an advisory role to Trunzo, in addition to providing any other guidance he can to the company.
"I'm thrilled with the choice" of Robert Trunzo, said Post, who brought Trunzo to CUNA Mutual. "He's earned his opportunity."
Post emphasized he is making the move to spend more time on personal business, including time with his wife, Lisa, who was previously the president of the Oklahoma Credit Union League.
"The good news about being president of an insurance company is it pays good money, but the bad news is you have no personal time," said Post. "I'm going to take it easy for a while."
Post, 54, said that over the next eight months he does not plan any sort of exit tour, but added, "I will miss the people the most. I love credit union people."
CUNA Mutual reported $150 million in net income for 2012 on $2.6 billion in total operating revenue.
