PITTSFIELD, Mass. (6/14/10)--Greylock FCU, Pittsfield, Mass., has named Marilyn Sperling as interim president/CEO, according to the credit union's board of directors.
"We have accepted the resignation of President/CEO Angelo Stracuzzi," the board said in a statement Friday. The board noted the resignation "concludes a full evaluation that began in late May 2010 when this board of directors first learned of Angelo Stracuzzi's 2005 misdemeanor conviction. "In accordance with our established succession plan, the Greylock directors convened a special board meeting and appointed long-time executive Marilyn Sperling as interim president/CEO." Sperling has 35 years of banking experience, including 25 at Greylock. "Marilyn and the other members of Greylock's senior management team have taken all steps needed to ensure a seamless transition with no disruption of service," the board said. For the past seven years, Sperling has been senior vice president at Greylock overseeing the credit union's branch network. She built the credit union's mortgage practice and is recognized as the foremost real estate lender in the region. Sperling also had established Greylock as the top mortgage lender in Berkshire County, said the board's press release. Board Chairperson Sheila LaBarbera said that Stracuzzi, in tendering his resignation, "stated that he felt this was in the best interest of the credit union. We'll always appreciate the achievements of the credit union under his leadership." Local news media reported that there was a potential conflict of interest probe, and the board had accepted the resignation of Stracuzzi and of board member Cliff Nilan. Nilan was the chief of probation for Berkshire Superior Court (Associated Press
and Boston Herald