DOUBLE-EDGED SWORD

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Description: Serving as a credit union's interim CEO might sound like getting a special award: an opportunity to run the show, a chance to strut your stuff as a leader and a manager, a practice run that could convince the board to give you the job permanently. If you've been promoted from the ranks, you may find the former colleagues who are now your subordinates surprised at the least -- and envious, resentful and uncooperative at the worst. You might have to continue performing the duties of your previous position, resulting in back-breaking hours. All too few credit unions have workable plans for the sudden loss of their CEO. In too many cases, even when there is a plan, it's designed simply to satisfy regulators. A major consideration is possible problems with the new CEO's relationships with the rest of the staff. This may be dismissed by boards as a trivial concern, but it's far from it.
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