First Tech Forecasts Lengthy CEO Search
California’s First Tech Federal Credit Union is apparently taking its good time before picking its new president/CEO to succeed Benson Porter, who starts next month as head of the $10 billion BECU of Seattle.
In a statement last week the $5 billion Palo Alto CU reaffirmed Hank Sigmon, chief financial officer, as its interim head and said the board’s hiring committee “is conducting a broad and thoughtful search including a thorough application review process.”
The recruitment program “is progressing as planned but at this time we have not identified a firm hire date,” said Deborah Colby, marketing vice president.
O’Rourke and Associates, the recruitment firm, is heading up the outside search.
“We expect the process to take upwards of another six months to complete,” said the statement.
Porter is to start work April 9 succeeding the retiring Gary Oakland, who is also the current chairman of the National Credit Union Foundation. Oakland, a 26-year industry veteran, is slated to step down from the CEO post at the Tukwila, Wash. CU on May 12.
Sigmon was named First Tech interim CEO on Feb. 1.