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Tuesday, August 08, 2017

Mairs & Power's Next CEO Speaks

Reported by Sophie Alexander

Mark Henneman, the next CEO of Mairs & Power, has been preparing for a while to lead the company and he's not looking to make waves. Henneman tells MFWire that he has known about the succession plan for two years and that he has been working with the current CEO, Jon Theobald, regularly to prepare for the new role.

Mark Henneman
Mairs & Power
President and Chief Investment Officer

"We're very deliberate about everything we do here. We're long-term investors and that reflects in how we run our business, too," Henneman tells MFWire.

Henneman is currently the president and chief investment officer at Mairs & Power and will take over as CEO on January 1, 2018. Theobald will stay at the firm as chairman emeritus and the head of the firm's charitable giving efforts. Henneman's old duties will be split up between Andy Adams, who will become CIO and Robert Mairs, who will become president. Henneman says he will continue to work with Adams and Mairs to help them with their new roles after January 1. Until then, Henneman will continue to work with Theobald to prepare.

Rob Mairs
Mairs & Power
Chief Compliance Officer

"I will feel ready on January 1. There is still plenty of work to do between now and then," Henneman says.

Henneman says he has no plans for any big changes.

"No one outside the company should notice a change," Henneman says. "I am really going to strive to continue the great work that Jon has done. We've got a really nice formula for success."


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