ABA Banking Journal - May 2014 - (Page 16)
Who will ﬁll the chair?
Boards and top management can't put off answering that question
any community banks may
be facing a reverse form of
"musical chairs" in the next
few years, if they haven't already. Each
time the music stops, another chair
appears, while there are fewer qualified people to put in the empty seats.
Experts interviewed cite several reasons for this trend:
* Financial crisis after math. Many
community banks f aced problems during the cleanup that were
best solved by experienced bankers
who knew the banks, says executive recruiter Alan Kaplan, CEO of
ABA BANKING JOURNAL
Kaplan & Associates, Inc. So, Kaplan
continues, CEOs and other senior
officers sometimes outstayed their
original plans. This creates more
demand for strong replacements at a
time when many corner offices have
already turned quite gray.
And, going beyond merely "gray,"
where current leaders resist turnover,
ultimately they have no choice. Many
corner office occupants will hit health
issues in the next five to ten years.
"They may believe that life will go
on forever, or that they will go on
forever," says consultant John Szold
BY STEVE COCHEO, EXECUTIVE EDITOR & DIGITAL CONTENT MGR.
Table of Contents for the Digital Edition of ABA Banking Journal - May 2014
Who will fill the chair?
Pass the Aspirin
Doing well by doing good
ABA At Your Service
ABA Banking Journal - May 2014