SKIPTON ANNOUNCES CHIEF EXECUTIVE SUCCESSION PLAN
Skipton Building Society has announced that chief executive, John Goodfellow, is to step down at the end of the year after 17 years in the role. David Cutter, currently Skipton’s group corporate development director, will succeed John as chief executive on 1 January 2009.
The planning and arrangements for John’s succession have been in place for some time. To facilitate a smooth transition, David Cutter will become deputy chief executive on 1 August 2008. David will work alongside John until he replaces him as chief executive on 1 January.
From 1 January, John Goodfellow will become a consultant to the Board of the Society and will also continue his tenure as chairman of the BSA (Building Societies Association) until May 2009.
David commented, “It’s a great honour to be taking the helm of one of the country’s largest building societies. The Society remains robust in these turbulent financial times and both our savers and borrowers can be sure they are in safe hands.
“Having seen the advantages of mutuality first hand during my 15 years with Skipton, there is no benefit to be had in changing this model; my aim is ‘business as usual’- to continue to act in the best long-term interests of our members. Our strategy of carefully investing in market-leading subsidiaries will continue, as we build on the strong foundations John Goodfellow has been so instrumental in laying.”
David added, “It has been a privilege working with John as he led the Society from assets of £2.5 billion, when he took over as chief executive in 1991, to today, when that figure stands at well over £13 billion. His vision has created a unique group of companies that make Skipton one of the UK’s most successful building societies.”
Skipton’s Chairman John Rawlings said, "John has been an exceptional chief executive whose vision of modern mutuality has transformed Skipton in recent years and made it into the unique organisation it is today. I am delighted that following a full selection process the Board has unanimously voted to appoint David as John’s successor, thereby ensuring the continuity of the Skipton culture which is so vital to our success.”
John Goodfellow said, “I am extremely proud to have led the Society for the last 17 years. In that time it has grown to be a vibrant Group business operating throughout the UK and creating 4,000 jobs. And, whilst the current economic climate is challenging, the Society is ideally positioned not merely to weather the storm but to take advantage of emerging opportunities.
“I have thoroughly enjoyed my time as chief executive and thank all of my colleagues for their support and friendship.”