VANCOUVER, British Columbia, July 04, 2017 (GLOBE NEWSWIRE) -- Central 1 Credit Union (Central 1) CEO Don Wright, who announced his decision to step down in May, has been asked to take on the position of Deputy Minister of Executive Council, Cabinet Secretary and Head of the Public Service at Province of B.C. by the new Government of British Columbia.
“While I certainly didn’t intend or expect to leave Central 1 so soon, the B.C. government has asked me to take on a role that requires immediate attention,” said Wright. “I have greatly enjoyed my time at Central 1, and look forward to watching the organization’s progress on the new strategic plan and future state of the second tier, which is already in motion.”
Wright’s resignation as CEO of Central 1 is effective at end of business day on July 7.
With considerable expertise in both the private and public sector, and a significant understanding of government and economy, Wright was a natural choice for the role, said the B.C. NDP Leader and Premier-designate John Horgan.
“Don has shown leadership and innovation in a number of high-profile organizations, and we believe his ability to build relationships and his approach to challenging situations will provide great benefit in dealing with key issues we’ll need to address,” said Horgan. "We realize that we're calling Don away from his current commitments, however this is a critical role and having him in place as we get to work on the issues that matter to people is important."
“We are disappointed to lose Don sooner than we had hoped, but we support this opportunity for him to serve the greater good of everyone in B.C.,” said Rick Hoevenaars, Chair, Central 1. “Although Don will no longer be working directly with Central 1, we see it as positive that a key figure in government will be an individual who deeply understands the value of the credit union system in supporting prosperity of British Columbians and their communities.”
Central 1’s Board has appointed Marilyn Mauritz, currently Central 1’s SVP, General Counsel & Corporate Secretary, as interim CEO while the search for a permanent appointment which began in May, continues.
About Central 1
With offices in Vancouver, Mississauga and Toronto, Central 1 holds on balance sheet approximately $18.0 billion in assets. We provide wholesale financial products, trust services, payment processing solutions and direct banking services to about 300 credit unions and institutional clients from coast to coast.
In addition, Central 1 is the primary liquidity manager, payments provider and trade association for our 42 member credit unions in B.C. and 71 Ontario member credit unions. Our members represent a consumer-oriented, full-service retail financial network that collectively serves 3.3 million members and holds more than $118.8 billion in assets. For more information, visit www.central1.com.