Time’s ticking…don’t forget to succession plan!

by Mark Arnold, On The Mark Strategies

Imagine your credit union or community bank as a ship…a ship with an amazing captain and first mate. These two are visionaries, and they’ve steered the ship so long it feels like they’ll be there forever.

But they won’t.

Someday soon, one or both will retire. And who’ll steer the ship then? Do you know? If not, you’re entering dangerous waters.

The truth is, you need a succession plan if you want a successful future. You want the right CEO or board members at the helm when the current ones leave, and you’re running out of time to groom those perfect successors.

 

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