Why Succession Planning?

Earlier this year the CUNA HR/TD Council selected us to write a white paper on Succession Planning based on our extensive knowledge and experience in this area (We've produced 36 credit union CEOs with our training sessions -- many are now running billion-dollar-and-up CUs.). Obviously, we were happy to oblige, as it was a huge honor for us.

Part of giving back is sharing valuable information and we would like to share this paper with you in the hopes that you will be able to glean some practical information to help you with your credit union's succession planning. It's an incredibly important topic, as many CEOs are planning their exits within the next few years.

Below are some excerpts and graphics that will give you a glimpse of this document's content. If you want a copy of the white paper, contact me at 800/395-1410 or jcardwell@cardwell.com.

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CEO Succession Planning and Transition
In today’s rapidly changing business environment, a credit union needs to be a high performance organization to compete successfully. Jim Collins, the author of Good to Great, says: “The first step in achieving greatness is that you must have the right people on the bus."

Heidrick and Struggles (a well-known executive search firm) and Stanford University’s Rock Center conducted a survey of boards from a variety of industries on CEO Succession Planning in the spring of 2010. Take a look at their key findings – How would your credit union respond?


There are two types of CEO succession plans. First is the emergency CEO succession plan, which prepares you for the sudden death or rapid, unexpected departure of the CEO. It outlines a short-term ‘disaster recovery plan’ to maintain organizational continuity until a new, permanent CEO is on board. The second is the long-term succession planning process. It is designed to prepare successors to the CEO. In some organizations it is also used to develop people in the organization to back up other key positions. It establishes a framework for ongoing coaching and development designed to strengthen the bench. The majority of this paper will deal with the long-term succession planning process and transition.

For more of our white paper on Succession Planning, contact me at 800/395-1410 or jcardwell@cardwell.com.
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Credit Union Journal Best Practices Awards winner 2011, 2010, 2008, 2007

Credit Union Journal Best Practices Awards winner 2011, 2010, 2008, 2007
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Former San Antonio FCU CEO, Jeff Farver (ret. Jan. 2011) discusses Looking for Talent and Guiding It Properly posted on Callahan & Associates (2/27/12)...

Did you have a mentor when you were younger?

Farver: I did not. I became the CEO of an $80 million credit union when I was 34. No one really helped me or showed the ropes. I think one reason I am so committed to training younger executives is that I did not have a mentor. I pretty much figured things out on my own. I did have a consultant, Jim Cardwell, who helped, and I learned a great deal from Elliot Jaques' Requisite Organization, a book about leadership development.

Do you recommend bringing in consultants for this sort of work?

Farver: Possibly. Internally you might be good at building the KSEs but need help in training persons to understand their own strengths and weaknesses. A consultant can help there. Jim Cardwell can be good here. He works with persons on the COO level about the adjustments to be made when moving up to a CEO position, i.e., working with a Board and so on. Persons like Jim can be helpful in mentoring a rising executive to a CEO level.

Check out the rest of Jeff Farver's interview on Callahan & Associates.

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CEO Succession Planning Interview with Jim Cardwell

There are a good number of credit union CEOs that are looking to retire in the next few years, leaving our precious industry to a new group of leaders. There's a plethora of practical information in this extended interview on succession, as Jim's experience in this area really shines. Enjoy the program! Click here to view: http://www.cubroadcast.com/2011/09/80ceo-succession-planning-for-success.html

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Contact us for more information:
Connections Online
24481 Detroit Rd, Suite 300
Cleveland, OH 44145
(800) 395-1410
(440) 892-9010 (fax)
info@connectionsonline.net

About

With more than 25 years of leadership building and strategy execution experience, Jim Cardwell is a wealth of expert information for your organization to become a high performance culture or an executive who truly wants to make a difference. As an Executive Coach, Jim has helped place and mentor nearly 40 CEOs at high-level organizations, most at billion-dollar-and-up credit unions. He has worked with numerous boards over the years to help them define what they need regarding succession planning and resolving complex leadership issues. It's this type of experience that separates Jim from his peers. If you or your organization wants to make a difference, buck the status quo, and achieve new levels of success, contact Jim Cardwell today for his proven practices.