CFC Selects Korn Ferry to Find Sheldon Petersen Successor

CFC has announced that it is working with the global search firm Korn Ferry to find a successor to CFC CEO Sheldon Petersen. He notified the CFC Board of Directors in July of his intention to retire in 2021, following the successful completion of a search for a successor. Korn Ferry led the search that placed Petersen as CEO in 1995.

“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 CFC Board President Dean R. Tesch, who is also the board chairman of Taylor Electric Cooperative in Medford, Wisconsin. “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.”

Petersen joined CFC in 1983 as an area representative, moving to headquarters in 1990. He has served in his current role since 1995. During his tenure as CEO, he created an organizational culture focused on CFC’s core values of service, integrity and excellence. In addition, the CFC loan portfolio increased from approximately $7 billion to nearly $27 billion today.

Korn Ferry is America’s Best Executive Recruiter According to Forbes Magazine

Korn Ferry, ranked by Forbes magazine as America’s best executive recruiter, plans to conduct a global search for qualified candidates based on criteria established by the CFC Board of Directors Search Committee. Korn Ferry Senior Client Partners Kate Shattuck, Peter Bogin and Charles Ingersoll are managing the search process. Any inquiries or applications, including cover letters and resumes, may be directed to Shattuck at cfcceo@kornferry.com.