FOR IMMEDIATE RELEASE
Tech CU Announces CEO Succession Plan
Todd Harris Appointed President and CEO effective May 16; Barbara Kamm to Retire and Remain on the Board of Directors
San Jose, Calif. – February 2, 2016 – Tech CU (Technology Credit Union) today announced that Barbara Kamm, the company’s President and Chief Executive Officer, will retire in May 2016. The Board has appointed Todd Harris, who currently serves as the company’s Chief Financial Officer and Chief Administrative Officer, as President and CEO, effective Monday, May 16, 2016. Kamm will remain on the Board of Directors and continue to be active in the local business community.
“After six plus years, it’s now time for me to pass the reins to Todd Harris,” said Barbara Kamm, President and CEO of Tech CU. “Todd has the experience, vision, leadership and knowledge of Tech CU that the organization requires. He understands the unique challenges facing our industry and is ready to take this company into the future. I’ve enjoyed working closely with him for over five years now, as we implemented and shaped Tech CU’s strategic vision. With Todd at the helm, our Board of Directors and I feel confident that Tech CU will continue to succeed and grow.”
"The Board of Directors expresses its most sincere thanks to Barbara Kamm for her outstanding leadership and direction of the credit union over the past six years, and we are very pleased that Barbara has decided to remain with us as a member of the Board after her retirement as CEO,” said Mical Atz Brenzel, Chairman of Tech CU’s Board. “We chose Todd Harris as her successor after a careful and methodical selection process and unanimously agreed that Todd was the right person, with the right skills, talents, and perspective, for the job. We all look forward to working with him in this new role.”
“I’m honored to be named President and CEO of Tech CU, and to have had the opportunity to work with Barbara,” said Todd Harris, CFO. “Since joining the company, she’s done an incredible job — restoring the company to profitability, growing our retail loan portfolio, building a strong management team, introducing a full range of commercial loans and adding Wealth Management to the company’s portfolio of products. I’m looking forward to continuing this legacy of growth — ensuring a great member experience.”
Harris is an industry veteran with nearly 25 years’ experience in financial services, including in the banking, credit union and leasing company sectors. During his time at Tech CU, he has been instrumental in leading a variety of key initiatives aimed at improving the member experience. These include the implementation of both online and mobile banking systems, streamlining the lending process and creating a successful channel strategy.
Prior to joining Tech CU, Todd was CFO at Alliance Credit Union, where he successfully steered the company through the 2008 recession and back to profitability. Before Alliance, Harris was CFO for Pentech Financial Services. He also spent 12 years at Silicon Valley Bank, where he held the position of SVP Finance and Strategic Planning.
A native of the region, Todd received his B.A. in Business Administration with a concentration in finance from San Jose State University. He was recently named to the Board of Directors for Joint Venture Silicon Valley and regularly provides commentary and insight to institutional regulators on numerous issues, including, most recently, the NCUA’s Risk-Based Capital Rule proposals.
ABOUT TECHNOLOGY CREDIT UNION
Tech CU (www.techcu.com) is a $2 billion credit union serving approximately 75,000 members throughout the San Francisco Bay Area — including employees of such companies as Tesla, eBay, Applied Materials, Nvidia and Facebook. A federally insured, not-for-profit organization, we put the financial interests of our members ahead of shareholder profit by helping members achieve their financial goals on their terms and by sharing the benefits of our growth. Founded in 1960 by a group of forward-thinking employees at Fairchild Semiconductor, today we continue to be an industry leader, providing innovative financial products for all stages of our members’ lives, including personal banking, wealth management, private banking, commercial lending and business banking. Tech CU consistently achieves a customer satisfaction rating above 95 percent and maintains a 5-star rating from Bauer Financial, the nation’s largest independent rating service for financial institutions. And, with mobile and online banking, 65,000+ surcharge-free ATMs worldwide (more than Chase, Bank of America and Wells Fargo combined) and convenient branch access to our financial experts, Tech CU makes 24/7 banking easy and empowering.