John W. Flynn, vice chairman and chief financial officer of Fleet Financial Group, announced Monday that he will resign next summer for a teaching career.
After 23 years at Fleet, he said, he wants to return something to the communities where he has lived and worked. His last day at Fleet will be June 30, 1993.
"Whenever I've had the opportunity to work with kids, I've enjoyed it, so it's always been in the back of my mind," he said.
A native and resident of Warren, R.I., Mr. Flynn, 53, said he hopes to teach economics, banking, or finance and/or become a career counselor. His Fleet pension will be more than $100,000 a year.
He said he hopes to land a full-time job at a local school but said he would consider a college professorship in Boston.
Sunday School Teacher
Mr. Flynn now teaches a two-hour religion class Sunday mornings at his local church, and until five years ago, he was a scout for the Warren High School football team.
Analysts, who regularly praise Mr. Flynn's straightforward presentations, said they were surprised by the announcement.
Although he is no longer among the top-paid executives at Fleet, they said, he remains chief executive Terrence Murray's closest adviser. Both have risen through the ranks at about the same pace and played integral rolls in transforming Fleet into one of the country's top superregionals.
A Top Earner
Mr. Flynn's salary was not disclosed in 1991. In 1990, his cash compensation totaled $377,923, second-highest in the company.
No successor was named, but analysts said they expect Eugene M. McQuade, 43, senior vice president for finance, to succeed Mr. Flynn. He joined Fleet in January after 12 years at Manufacturers Hanover Corp., where he had been controller.