By Rick Uhlmann
Bob Trunzo took the reins of CUNA Mutual Group yesterday, as planned.
Emphasis on as planned.
Departing CEO Jeff Post and our board of directors had mapped out plans for this transition in leadership well in advance as part of part of our long-term strategy. The timing of this change in CEO was carefully planned to ensure a smooth transition that would support CUNA Mutual Group’s positive momentum.
Indeed, when Post came to the company in 2005, he worked with our board to build and manage a robust succession planning process for all officer-level positions. He believed ongoing talent and succession planning would be critical to ensuring CUNA Mutual Group had leadership talent across its business—and, in turn, ensure long-term growth and financial strength.
Our company’s planning process now covers several hundred leaders and managers throughout the organization. The board continues to have insight into this work, as talent and succession plans are shared with its compensation committee annually.
Trunzo plans to continue the company’s commitment to succession planning.
“Across our businesses, we know there is great value in being able to prepare high-performers for future roles well in advance of a vacancy occurring,” he says. “Succession plans are discussed with the employees who are named as possible successors, so they can take steps in their own professional development to prepare for possible future roles. The company’s talent management team of human resources professionals provides performance and potential assessments to help focus development activities and coaching for likely successors.”
In his own case, Trunzo brought knowledge of insurance and proven leadership experience to his first job at CUNA Mutual Group—leader of the sales organization—in 2005. As he grew through the ranks into such roles as chief sales and marketing officer, EVP/chief operating officer and, most recently, president of CUNA Mutual Group Insurance and Financial Services, Trunzo continued to build his insurance industry acumen by serving on the board of directors for MIB Group (as an American Council of Life Insurers member, he sits on the ACLI’s CEO executive steering committee on retirement and financial security) and the U.S. Chamber of Commerce. He also completed the Kellogg School of Management Executive Program at Northwestern University in 2011, and has worked with trusted executive coaches.
Good succession planning is critical for any organization—and there are significant advantages to planning for more than just senior executive roles. Planning is the first step for developing and maintaining a leadership pipeline. Managing the assessment, development and coaching of successors helps ensure an organization will have the right people ready for the right leadership role at the right time. Although it takes time and resources to prepare and maintain succession plans, the advantages are numerous: You can identify high-quality candidates and shape their development, approach unexpected vacancies from a position of confidence, ensure a smooth transition and continued organizational direction, and maintain management consistency during times of change and transition.
Rick Uhlmann is senior manager/media relations for CUES Supplier member and strategic provider CUNA Mutual Group, Madison, Wis.
CUES Supplier member and strategic provider DDJ Myers offers executive and board succession planning and executive coaching services.
