✅ WesCorp CEO Promotes Hayes
By Heather Anderson |Updated on April 29, 2008
WesCorp announced a shift in its executive staff April 22, 2008 naming Jim Hayes chief financial officer and senior vice-president, ...
Hayes replaces longtime CFO Todd Lane, who left to take the CEO job at Executive Compensation Solutions last month.
WesCorp CEO Bob Siravo said he would now be looking to fill two positions: senior vice-president of payment systems and chief of staff.
❓In evaluating CEO candidates, was the Board of Directors aware of Jim Hayes's time as CFO at Wescorp
when it went into receivership?
✔ Yes. The Board of Directors retained Russell Reynolds to conduct a national candidate search and extensively
investigate all CEO candidates, including Jim Hayes. The investigation included conversations with regulators
and others with first-hand knowledge of the Wescorp receivership and related litigation.
✅ Mr. Hayes was promoted to CFO two years before Wescorp was liquidated in 2010! Hayes was appointed CFO by Wescorp CEO Bob Siravo - not NCUA. [Siravo was later fired as CEO by NCUA in 2009].
... a little "sketchy" on your timeline and what actually occurred.