Make Succession Planning a Board Priority

One-quarter of CUs still need a formal CEO succession plan.

September 08, 2010
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Q. Additional advice for CUs and their boards?

A. Computer science pioneer Alan Kay said, "The best way to predict the future is to invent it." Succession planning is not theoretical. It's a crucial step in fulfilling the board's responsibility to maintain the general direction and control of the affairs of the credit union. When it's considered as an opportunity to invent the future, it becomes a lot more exciting.

KAREN SAUL is of counsel at Farleigh Wada Witt, Portland, Ore. Her practice focuses on employment law.

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