The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Frels Steps Back: Mairs and Power's Next Generation Rises Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, January 13, 2015

Frels Steps Back: Mairs and Power's Next Generation Rises

Reported by Neil Anderson, Managing Editor

Mairs and Power's [profile] top brass just implemented the next step in their long-term succession plan.

Today the St. Paul, Minnesota-based mutual fund shop unveiled the elevation of Jon Theobald, 69, to chairman and Mark Henneman, 53, to president and chief investment officer. Bill Frels, 74, who had been chairman, now serves as chairman emeritus and will retire at the end of 2015. Theobald will continue to serve as CEO.

"This signals succession planning out a few more years when I retire," Theobald tells MFWire. "This is not a big surprise."

Henneman also was just appointed president of the Mairs & Power Funds Trust.

The rise of Henneman was signaled as far back as 2006, Theobald points out, when Henneman became co-PM of the shop's flagship growth fund. And the succession plan, Theobald says, was initially developed by founder George Mairs, who died back in 2010.

"We've kind of refined it and carried out," Theobald says.

Mairs and Power also promoted Ronald Kaliebe to director of fixed income investments and Glenn Johnson to director of portfolio management. Both now serve as senior vice presidents.

As of December 31, 2014, Mairs and Power claimed $8.4 billion in assets under management, including $5.1 billion in its three mutual funds. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use