Business Management

WomenCorporateDirectors Names Susan Keating as New CEO

WomenCorporateDirectors Foundation (WCD), the largest organization of women board members globally, has tapped Susan C. Keating, president and CEO of the National Foundation for Credit Counseling® (NFCC®) and a WCD member, as its new Chief Executive Officer, effective December 1. Keating will succeed Susan Stautberg, the longtime and current CEO and chairman who founded WCD from her dining room table nearly two decades ago.

"Women are increasingly represented among the highest ranks of leadership in the corporate world," said Keating. "It is essential for businesses today to recruit women leaders to serve on corporate boards and embrace diversity. I look forward to championing the WCD mission to support and connect women leaders globally."

"KPMG's commitment to increasing boardroom diversity and supporting those women already in the boardroom is evidenced by our long-standing investment in the WCD Foundation," said KPMG U.S. Chairman and CEO Lynne Doughtie. "We're grateful for Susan Stautberg's vision and pioneering work and look forward to partnering with Susan Keating, an outstanding leader who will further expand the growth and influence of the WCD Foundation."

"It's been a remarkable journey – from helping build WCD from a group of C-suite women who wanted to get more women on boards and connect them to each other to what is now a global organization with 78 chapters," says Stautberg. "We have created a true peer network for women directors, and I am thrilled that Susan Keating will be taking us into our next chapter – she is the right leader for the future." After December 1, Stautberg will be staying on as a consultant to WCD for six months, advising through the transition and working on programming for the WCD Institutes around the world.

WCD conducted an extensive, nine-month search process to identify a successor to Stautberg, who has led the organization through its 17-year history. Says Nancy Calderon, a director of WCD who led the search committee: "In governance, succession planning is one of the most important roles of a director. As an organization dedicated to advancing best practices in boardrooms across the globe, WCD approached the task of identifying a successor to Susan Stautberg very thoughtfully, carefully, and strategically. We sought a candidate who would best serve our members and our organization as it continues to grow and evolve. But, just as important, we also sought someone who would preserve WCD's legacy that it has had from day one: to advance best practices in corporate governance, place more women on boards, and support them once they are in the boardroom."

"Susan Keating has been a member of WCD during its remarkable growth curve and is familiar with our mission to inspire visionary boards worldwide using our powerful trusted community of board members," says Kapila Anand, lead director of WCD. "The fact that she brings that knowledge of the organization to her new role was also a factor in our decision-making process." Anand was a member of the search committee as well, in addition to WCD members Cathy Allen and Evelyn Dilsaver.

During her 29 years working in the financial services industry, Keating served as CEO of several banks, and from 2000-2002 was the highest ranking female chief executive of a US banking company, Allfirst Financial, the largest US holding of Allied Irish Banks plc (AIB Group). Keating has served on numerous boards, including the Group Executive Committee of AIB and the Baltimore Life Companies and was chair of the USA Swimming Foundation leading up to the Beijing Olympics.

In 2004 Keating joined the NFCC as president and CEO at an especially challenging time for the nonprofit financial counseling and education sector. Under her leadership, NFCC members improved the financial well-being of 26 million people with the support of $88 million in funding for housing programs essential during the financial crisis, and $36 million for other programs promoting financial wellness and stability. During her tenure, she also developed important national partnerships, and formulated new strategies and business models while implementing changes to governance and operational processes critical to the NFCC's ability to navigate the rapidly changing environment.

Keating and Stautberg will work together this fall to prepare for the transition from Stautberg to Keating when Keating officially takes the helm on December 1, at which point she will also join WCD's board. Anand and Calderon will continue their stewardship of WCD, as will WCD's global advisory board, chaired by Evelyn Dilsaver and Melisa Denis.