In the News

As many of our stockholders are aware, Richard (Dick) Weathered our President/CEO plans to retire on December 31, 2016. We appreciate the commitment and dedication that Dick provided the Association during his 22+ years as President/CEO. Although we hate to lose Dick to retirement, we are excited for the opportunity to hire new leadership. Selecting a CEO is one of the most important responsibilities a Board is responsible for.

Our goal is for the CEO succession transition to be as transparent as possible, not only for the staff and stockholders, but also for the broader agricultural community as well. To help ensure the selection of a new CEO is successful, the Board has contracted with Farm Credit Council Services (FCCS) to help organize and execute the CEO succession process. FCCS has recently helped several other Farm Credit Associations select new CEOs for their organizations.

The Board of Directors is committed to finding a new CEO who can take the Association to new operational heights while at the same time supporting the current business culture that defines WAC. We feel fortunate to have three internal candidates for the CEO position, each of which has made significant contributions towards defining our corporate culture. In addition to considering the internal candidates, we will open the interview process up to all interested individuals, including those from outside of the Farm Credit System. It is our Board’s intent to hire the most qualified individual possible who will balance the needs of the Association, its membership and the rural communities in which we do business.

Some estimated key dates related to the CEO search and replacement are as follows:

April 1, 2016: Create CEO Job Description

May 1, 2016: Post the CEO Job Description for internal and external candidates

May 18, 2016: Screen the Candidates – Completed by the Board Selection Committee

Mid-June 2016: Round #1 of candidate interviews – Board Selection Committee

Mid-July 2016: Round # 2 of candidate interviews – Full Board of Directors

August 1, 2016: Extend offer to successful candidate

September 1, 2016: New CEO starts WAC employment

The two CEOs will work together for a period of 30-90 days to help ensure a successful transition. Dick will be available to the new CEO and/or Board through the end of 2016.

The Board and I would like to thank the entire WAC staff and membership for their commitment and support to WAC and the rural communities that we serve. If anyone has any questions or concerns, please email me (shirelle@knightonerb.com) at your convenience.