Paul Gilbody, the president and CEO of Leominster Credit Union, abruptly resigned last Friday after less than six months on the job.
Senior Vice President Carol Southworth, who joined the credit union in 2001, has been appointed interim president and CEO while the board searches for a replacement.
"We have every confidence that the management of the credit union will be in good hands under Carol’s leadership, and that she has the full support of LCU’s board and executive management team," Anthony A. Gasbarro, chairman of the board, said in a statement.
Janet Belsky, vice president of marketing at the credit union, said that Gilbody resigned due to a difference in philosophy between him and the board of directors and that his departure was on amicable terms.
"When they were planning ahead for the future and looking at their strategic plan, they had different visions of how to get there. They thought at this point they should go their separate ways," she said, but declined to elaborate further.
Board members reached by Banker & Tradesman declined to comment on the nature of the board’s disagreements with Gilbody.
Reached at his home today, Gilbody declined to comment on the exact nature of his resignation, adding, "It was an amicable separation, and I’d like to leave it at that."
Gilbody was appointed in August to succeed Gordon R. Edmonds, who had served in the same role for five years.
Leominster Credit Union has approximately 50,000 members and just over $600 million in assets and serves primarily North Central Massachusetts and Worcester County. Belsky said the institution ended 2012 with a profit, but could not provide an exact figure.





