MONTGOMERY, Ala., — Alabama Ag Credit announced that Doug Thiessen has notified the Board of Directors of his intention to retire from his role as president and chief executive officer. Thiessen will continue to serve until his successor is appointed, with his departure scheduled no later than March 31, 2025.
The Board of Directors has engaged with an outside firm, FCCS Consulting, to identify the replacement for this critical leadership position.
Since assuming the position of president and CEO in 2007, Thiessen has overseen significant growth at Alabama Ag Credit, with the financial cooperative’s total assets increasing from $520 million to nearly $1.4 billion as of March 2024. During his tenure, the association returned over $133 million to its members through cash patronage and stock reductions, circulating that money back into the local economy.
“It has been a privilege to lead our team and collaborate with our directors in fulfilling our mission,” said Thiessen. “Our Association is strong, and we have a board of directors that truly believes in the mission of our organization. I am confident that they will appoint a leader who will not only sustain our history of success but also drive the organization to new heights.”
Larry Gibson, chair of the Alabama Ag Credit Board, praised Thiessen, stating, “Doug’s vision and dedication to serving others have been outstanding. We appreciate his leadership, integrity, and the lasting impact he has made on our Association.”
Thiessen has an extensive background in the Farm Credit System, serving the system for over twenty-five years. He served in roles at the cooperative’s funding bank, Farm Credit Bank of Texas, the Farm Credit Administration (the regulator), and a Farm Credit lending cooperative in Texas. His career also includes working with Dell Technologies.
Thiessen’s career path reflects a deep commitment to agriculture and rural finance, supported by a strong educational background and active participation in various organizations within the agricultural and business communities.
The Board of Directors is currently preparing a forthcoming job posting for the CEO role, which will be posted in the coming weeks. Please continue to monitor our website for more information.
About Alabama Ag Credit
Alabama Ag Credit is a member of the nationwide Farm Credit System and provides financing for farms, timber and forestry operations, agribusinesses, country homes, recreational land, and other rural property in 40 counties in central and south Alabama. The financing cooperative has offices in Demopolis, Dothan, Enterprise, Monroeville, Montgomery, Opelika, Selma, Spanish Fort, and Tuscaloosa. For more information, visit www.AlabamaAgCredit.com.
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