Horner Sells Remaining Himle Horner Stock; Completes Long-Planned Transition

Jun 14, 2010, 11:00 ET from Horner2010

MINNEAPOLIS and ST. PAUL, Minn., June 14 /PRNewswire-USNewswire/ -- Independence Party gubernatorial candidate Tom Horner announced today that he has reached an agreement to sell all remaining stock in Himle Horner Inc., the firm he co-founded in 1989. Horner began the sale of shares in Himle Horner in 2008 when Todd Rapp, now the firm's president, purchased half of Horner's ownership. The company is buying the remaining shares in a transaction that is effective June 14.

"I'm very proud of the firm I helped start more than 20 years ago," said Horner. "I've had the opportunity to contribute to improving and growing Minnesota, to create a successful business and to work with great clients and the finest colleagues in the business.  

"But I also believe strongly in the obligation of people to return a share of their success to the community. I've long been involved in the community through nonprofit organizations, and felt that I could do more. My wife Libby and I made the decision more than two years ago that we wanted to explore different opportunities in our lives over the next few years, including different ways in which we could serve Minnesota," said Horner.  "While running for public office wasn't one of the options we considered, we are able to take that path because we had opened the door to new opportunities by reducing my business obligations."  

Horner earlier had announced that he intended to take a leave of absence during the campaign and had pledged that if he is elected governor, he will sell all his shares in Himle Horner. "The opportunity to finalize the transition that started two years ago presented itself, and it made the most sense for my family, the business and my colleagues," said Horner. "While a sale of stock takes longer to work out than a leave of absence, I'm pleased that a deal was struck that makes sense for everyone involved."

With the transaction, Horner will have no financial or professional involvement with Himle Horner.  He will continue to provide strategic communications counsel to Twin Cities hospitals, but will do this outside of Himle Horner's work for the hospitals. Horner will not work with any other clients during his gubernatorial campaign.

Horner, Himle Horner co-founder John Himle and Rapp started planning the transition prior to Horner's filing to be a candidate for governor. "Selling a professional services firm takes time," said Horner. "I owed it to my colleagues to make sure the transition was done well from their perspective and from mine.

"I also hope that with the transaction now complete, other candidates and their political parties will focus on the issues of importance to Minnesota," said Horner. "I am appalled that some people and candidates are so willing to attack the reputation and integrity of others solely for political gain. To the credit of Minnesotans, it's clear that those efforts have backfired.  Support for my candidacy is growing and is coming from Minnesotans across the political spectrum."

For more information regarding Horner's campaign, log on to Horner's website.

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