- After almost 17 years on the job
- Brent Beardall taking over
- Whitehead will remain as Executive Chairman at Washington Federal
(management-change.com) — Seattle, Washington, January 04, 2017 — Roy Whitehead, chief executive of Washington Federal, leaves the position. As announced by Washington Federal, Inc. in a news release and in a regulatory filing published on Wednesday, January 04, 2017, Roy M. Whitehead leaves the post as Chief Executive Officer at the banking company after almost 17 years on the job, effective April 01, 2017.
It is the end of an era.
Whitehead’s duties are taken over by Brent J. Beardall, currently President & Chief Banking Officer at Washington Federal, Inc.
No reason given
In the announcement, Washington Federal did not explicitly explain the reason for Whitehead’s move.
Washington Federal said: Whitehead “will resign as the Chief Executive Officer of both the Company and the Bank”.
Whitehead will remain as Executive Chairman at Washington Federal
Whitehead will move into a new role as Executive Chairman of the Board of Directors of Washington Federal.
“After being CEO since October of 2000, Roy will move to become the Executive Chairman of the Board of Directors at Washington Federal for at least another year and help ensure a smooth transition for Brent. The two have worked closely together for the last 15 years,” said Brad Goode, a Washington Federal spokesperson, in an emailed response to a management-change.com query.
Share price rise since February 2016
The change follows a rise in the share price of Washington Federal, Inc. since February 2016.
On the job as CEO since 2000
Whitehead joined Washington Federal in September 1998.
He was named President in March 1999, became CEO in October 2000, and added the Chairman title in 2006.
In addition to chairing the Board of Directors, Whitehead will work closely with the new CEO to ensure a smooth transition.
Read the full story in the management-change.com report 02.2017 ($).