Credit unions face a massive leadership transition as 40% of CEOs retire by 2030, yet only 54% of boards have succession plans in place, creating both challenges and opportunities for reimagining executive leadership.

• Wave of retirements includes not just CEOs but also C-suite leaders and board members creating multi-level leadership turnover
• Internal CEO candidates often lose to external ones because they haven't proactively developed strategic leadership skills
• Responsibility for succession planning falls on boards, current CEOs, and candidates—but ultimately aspiring CEOs must take ownership of their development
• Today's boards seek transformative leaders with clear vision rather than just operational excellence
• Successful candidates demonstrate emotional intelligence, cross-enterprise experience, and strategic thinking
• Assessments help quantify leadership potential while supporting successful onboarding
• Boards should establish clear expectations with current CEOs about transition timelines
• Aspiring CEO candidates should seek mentors, request rigorous feedback, and continuously learn
• The best boards prepare themselves to work effectively with a new generation of credit union leaders

If you're a board member, start by examining your succession planning quarterly. If you're an aspiring CEO, don't wait for others to develop you—seek teachers, mentors, and challenging experiences to build your leadership capabilities.