A 91-year-old, 43-employee, $11.5-billion-AUM (as of March 31), employee-owned, Midwestern mutual fund firm's operations chief is passing the reins and preparing to say goodbye.

Melissa M. Gilbertson Mairs & Power, Inc. Chief Operating Officer

Today, Mark Henneman, chairman and CEO of Mairs & Power, Inc. [profile], confirms that Melissa Gilbertson, a 14-year company veteran, took over as the St. Paul, Minnesota-based company's chief operating officer on April 15. Gilberston succeeded Andrea Stimmel,a 17-year company veteran who is expected to retire from the firm on May 6.

Henneman thanks Stimmel for making "huge contributions" to Mairs & Power's operations. And Henneman lauds Gilberston for her "operations and project management mindset."

Gilbertson joined Mairs & Power back in 2007 as assistant vice president and investment advisory services manager, then shifted to information technology and trading manager in 2019. Earlier, she worked with UnitedHealth Group, Fairview Health Services, and Pension Solutions, Inc. She is an alumna of the University of St. Thomas in Saint Paul and of the University of Minnesota.

Stimmel joined Mairs & Power back in 2004 as accounting, and she later rose to operations director and treasurer, chief compliance officer, and (in 2018) COO. Earlier, she worked as an audit manager at Target and Ernst & Young. She is an alumna of the University of Wisconsin-Eau Claire and of Lafayette College. 

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