Succession planning

Having spent 40 years in the credit union movement and the last 26 as CEO of True Sky CU, Steve Rasmussen has announced plans to retire later this year.

The appointment comes nearly two years after Davis said he was stepping down from the Minneapolis bank to pursue "another calling."

Mark Decello will take over for Gerald Guy, who has served as president and CEO at KEMBA for 30 years.

John Kolhoff will lead the Credit Union Commission of Texas starting in early December.

Several female executives accepted leadership roles throughout the industry and in regulatory roles during the past month.

Sarah Vega, chief of staff to NCUA Chairman Mark McWatters, succeeds Paul Gentile, who announced plans to leave the multi-state credit union league earlier this year.

Elliot Gregg, who led the institution for almost 20 years, will serve as president emeritus until his retirement in January.

A first-time chief executive will take the helm of the Texas-based credit union next month.

Credit union boards need to spend more time on formal CEO succession planning.

Russell Cole will take the helm at CUSO Home Lending, succeeding John Reed, who is retiring from the position.