ABA Banking Journal - May 2014 - (Page 16)

community banking MANAGEMENT SUCCESSION Who will fill the chair? Boards and top management can't put off answering that question M 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 16 | ABA BANKING JOURNAL | MAY 2014 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 PHOTOS: SHUTTERSTOCK.COM BY STEVE COCHEO, EXECUTIVE EDITOR & DIGITAL CONTENT MGR. http://www.SHUTTERSTOCK.COM

Table of Contents for the Digital Edition of ABA Banking Journal - May 2014

Chairman's View
Editor's Column
The Economy
Bank Notes
ABABJ Online
Picture This
Who will fill the chair?
Pass the Aspirin
Midsize Standouts
Doing well by doing good
Tech Topics
Compliance Inbox
ABA At Your Service
First Person

ABA Banking Journal - May 2014

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