Former Warwick Credit Union CEO John Brown has retired.
Former Warwick Credit Union CEO John Brown has retired.

Credit Union CEO to retire

AFTER more than a decade sitting at the top of the Warwick Credit Union’s managerial ladder, John Brown yesterday announced it was the time to retire.

The former chief executive officer of the Warwick Credit Union was in the top job for 13 years. Warwick Credit Union bord chairman Alan Olsen said Mr Brown had been on sick leave for about a fortnight and had “decided his health was more important to him than work”.

“John leaves the organisation in excellent shape, early indicators show the credit union is well ahead of its financial plan and on track to achieve an excellent profit result for the 2009/10 financial year,” Mr Olsen said.

“John has led the credit union and its considerable expansion during the past 13 years and the board, management and staff wish him well. Interim CEO Lewis von Steflitz is already in place and has been second-in-charge of the creditunion for the past three years,” Mr Olsen said.

“He brings more than 23 years of experience in the finance industry.”

Mr Olsen said the credit union had no plans at this point to undertake a recruitment process to find a replacement for Mr Brown, saying Mr von Stieglitz had the board’s “utmost confidence” in Lewis’ability but might “consider ouroptions” down the track.

Mr von Steflitz said the board accepted Mr Brown’s resignation on Sunday night and the CEO move was a natural progression as heoften “filled in” when Mr Brown was away on leave.

He hoped to be at the forefront of the financial institution’s growth, which has grown exponentially from its humblebeginnings.

“I’ve lived and been with the Warwick Credit Union for two-and-a-half years,” Mr von Steflitz said.

“This year is the credit union’s 40th year and there’s a huge amount of potential. We’ve gone from one branch to seven."

Mr Brown did not return calls from the Daily News.



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