CU Magazine Best Practices Report: CEO & Board Succession Planning PDF

Sooner or later, almost every credit union faces the need to compete for executive talent, either at the CEO level or among senior executives who report to the CEO.

Succession plans provide a checklist that helps CU boards address emergency and planned CEO vacancies. Succession plans also satisfy regulators’ demands for a clear, documented succession process.

To protect operations when vacancies occur, many credit unions combine CEO succession plans with leadership development. That creates management depth to maintain operations when key positions are vacant.

Turnover at every level of any type of organization is a natural part of life. By planning ahead to manage turnover at the top, credit unions ensure they have the leadership they need to meet challenges ahead.

This report covers:

• Responsibilities of the CEO, the board of directors, human resources staff, and senior executives in creating a succession plan
• Steps necessary for both an emergency succession plan and for a managed succession plan
• Issues to address between the CEO's departure and appointment of a permanent replacement
• Ways to develop leaders within the credit union
• Resources needed for succession planning

This Best Practice Report is 20 pages.

This item is an Adobe PDF. If you are unable to download the PDF report or need assistance, please call 800-356-8010, press 3. PDF downloads are nonrefundable.

This item is an Adobe PDF.

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