PORTSMOUTH, N.H.–Just two years after naming a new CEO, and while still engaged in litigation with its former CEO, David Van Rossum has left as CEO of Service Credit Union.
The credit union, in a statement to Seacoast-Online.com, said that CFO Andrew McGeorge has been named interim president. McGeorge has been with the credit union since 2012.
Lawrence Gormley, the attorney representing Van Rossum, told SeaCoastOnline.com that Van Rossum had “performed capably on behalf of SCU but, due to a good-faith dispute about his compensation, they mutually agreed to separate.”
Prior to being named CEO, Van Rossum has served on the Service CU board of directors for more than two decades.
Van Rossum’s departure comes at the same time Service CU is also litigating with its former CEO, Gordon Simmons.
As CUToday.info reported here, Simmons left the credit union after 21 years and filed suit alleging SCU has refused to pay him and his wife a lifetime of promised health insurance benefits. SCU responded by saying Simmons breached his fiduciary duty related to an affair he had with a subordinate, causing someone to be fired for exposing the affair, causing the credit union to settle legal claims, breaching his contract and lying.
That case is scheduled to go to trial on Sept. 4, 2019.