News

CO-OP Network CEO to retire in June '05

November 2, 2004

ONTARIO, Calif. - Robert Rose, chief executive of the CO-OP Network, plans to retire from his post in June.

According to a news release, the hunt for his successor is under the direction of a search committee from the CO-OP Network board of directors; the committee is being assisted by Muller and Associates, a New York-based executive search firm.

"CO-OP Network has a number of critical projects in progress that I intend to see through to completion," Rose said. "Until a successor is in place, it's not in my nature to be a lame duck and we have too much in progress to afford me that luxury."

The board hopes to name Rose's successor by mid-2005; he plans to continue in a consulting capacity at least through the end of 2005.

Rose came to CO-OP Network in 1990 after serving as president and CEO of the LA Water & Power Credit Union and holding positions with the California Credit Union League and an Illinois credit union.

He inherited an organization that consisted of less than 150 member credit unions, 300 ATMs, and 50 million annual transactions in California and Nevada. Fourteen years later, the CO-OP Network umbrella includes 1 billion annual transactions, nearly 20,000 ATMs and 1,800 credit unions spread across 50 states and 11 countries.

Rose, a Decatur, Ill., native and former Chicago resident, will host his final CO-OP Network conference and annual shareholders' meeting, May 18-20 in Chicago. "After all these years," he said, "our annual conference is finally being held in my backyard."

Following his retirement, Rose plans to enjoy time with his family and teach at the college level.