David F. Woods, CEO of the National Association of Insurance and Financial Advisors, said he plans to step down next August after completing work on a new strategic plan that he hopes will revitalize the life agents’ group.

Woods announced his plans in a memo to NAIFA’s board July 31, but made them public as the group began its annual convention in San Francisco.

Woods was named CEO effective Jan. 2003, while serving as president of the Life and Health Insurance Foundation for Education. He retained that position while serving as NAIFA CEO.

Specifically, Woods told the board that he will be retiring effective Aug. 1, 2007, while spending most of his time working on the new strategic plan for the group.

However, he said, if the board does not select his successor by then and if the board wants him to continue, he will serve until Dec. 31, 2007. He is now 70 years old.

In an interview, Woods said he wants to make the new strategic plan for growth of NAIFA the “high point” of his tenure.

“This represents a huge opportunity to really reposition NAIFA, perhaps reform NAIFA, so the trade group will have meaning to the quarter of a million producers who are already benefiting from our services and who should be members.

“And, once we do have it in place, I am going to turn this over to the person who will drive this over the next 10 years, whoever that may be,” he added.

The “challenge” of being NAIFA CEO “has been a blast, more fun than I deserve to have,” Woods said, adding he will retain his LIFE post for at least another year. He also said he has maintained his licenses and has “continued to do a little bit of business.”

He added, “I will continue that as well.”

Looking ahead, Woods said, “I’m here for another year. There will be a lot of work to be done over the next year; it is Job 1. I will be heavily involved in that so that my successor can pick up the momentum and carry it forward.”