Having a plan makes a CEO transition seamless

Face-to-face communication helps employees accept a new CEO at Addison Avenue Federal Credit Union

Bringing a new CEO into an existing corporate culture is a challenging process no matter what the company or circumstances. Doing so when employees like and respect the previous CEO makes it even harder.

Such was the case at Addison Avenue Federal Credit Union last year.

When Steve Lumm announced his retirement—almost a year before he actually left—he was well regarded, having successfully led the credit union for the past 12 years.

The announcement that his replacement would be Benson Porter, formerly chief administrative officer at Washington Mutual, was met with unease among employees.

“Having a new CEO led to some anxious moments. Not only were we getting someone who was not part of the legacy, we were getting someone from a bank,” says Derek Tynes, Addison Avenue’s senior vice president of human resources.

That’s why Tynes and his team (HR oversees communication at the organization) began creating a communication plan the moment Lumm announced his retirement to the rest of the management team.