November 2, 2020 – The National Rural Utilities Cooperative Finance Corp. (CFC) , a member-owned non-profit cooperative that provides financial products and services to America’s rural electric cooperative network, has retained Korn Ferry to find a successor to CEO Sheldon Petersen, who will retire in 2021. Korn Ferry also led the search that placed Mr. Petersen as CEO in 1995. Managing the search process for Korn Ferry will be senior client partners Kate Shattuck, Peter Bogin and Charles Ingersoll.
“As rural electric cooperatives navigate the current economic and health uncertainties faced by our nation, it is critical that CFC continues to provide its member-owners with the unparalleled level of financial products and services necessary to help ensure their success today and into the future,” said Dean R. Tesch, board president.
“We are conducting a national search for a strong leader with impeccable credentials and experience who will build upon our accomplishments as well as define and execute innovative strategies to maintain our position as the most trusted financial resource for the electric cooperative network,” Mr. Tesch said.
Korn Ferry’s recruitment of Mr. Petersen resulted in a 25-year tenure with the company where he created an organizational culture focused on CFC’s core values of service, integrity and excellence. In addition, the CFC loan portfolio increased from about $7 billion to nearly $27 billion today.
Created and owned by America’s electric cooperative network, the National Rural Utilities Cooperative Finance Corp. provides industry expertise, flexibility and responsiveness to serve the needs of its member-owners.
Ms. Shattuck works from the Washington, D.C. and New York offices of Korn Ferry, where she co-leads the firm’s impact investing practice, serves as a specialist in the financial services sector and leads the firm’s relationship with the World Bank Group. Ms. Shattuck partners with asset managers, asset owners, commercial banks and organizations focused on leadership succession to build and develop effective leadership teams at the C-suite, board and senior executive levels. She has executed recent search assignments for CEOs, CFOs, COOs and investment team members. Her clients have included the World Bank, the Vanguard Group, Union Bank, M&T Bank, Ford Foundation and Capricorn Investment Group.
Mr. Bogin, based in Korn Ferry’s New York office, is a member of the global energy and infrastructure practice. He has knowledge and insight around international energy industry activity to Korn Ferry and has completed several hundred senior executive and board search assignments for oil, gas, power, and engineering, procurement and construction companies as well as for financial institutions with a vested interest in energy and infrastructure.
Mr. Ingersoll Jr., who is located in Korn Ferry’s Washington, D.C. office, is co-leader of the non-profit practice. He specializes in the recruitment of senior-level executives for associations and non-profit organizations globally and is a member of the firm’s Africa Center of Expertise. With 22 years of executive recruiting experience, Mr. Ingersoll has an understanding of mission-driven organizations and the trends, opportunities and challenges facing the non-profit sector. He has experience working with boards and search committees delivering executive search and integrated talent management solutions.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media