SAINT PAUL, Minn., July 28, 2017 /PRNewswire/ -- Mairs & Power is pleased to announce that a new Chairman and CEO, a new President and a new Chief Investment Officer (CIO) will assume those roles effective on January 1, 2018. Jon Theobald who has been Chairman and CEO since 2012 will be retiring at the end of the year. Mark Henneman will become Chairman and CEO replacing Theobald, and Robert Mairs will become President and will continue to serve as Chief Compliance Officer (CCO). The firm's new CIO will be Andrew Adams, replacing Henneman in that role. Though no longer an employee after December 31, Theobald will remain associated with the firm as Chairman Emeritus and he will continue serving as a Trustee of the Mairs & Power mutual funds.
Mark Henneman joined Mairs & Power in 2004 as Vice President, was named co-manager of the flagship Mairs & Power Growth Fund in 2006 and became the Fund's lead manager in 2013. Henneman was named President and CIO in 2015.
Robert Mairs joined Mairs & Power in 2015 as General Counsel and Assistant to the Chairman, and a year later added the title of CCO. Prior to joining the firm in 2015 Mairs practiced law in Minneapolis for 16 years with the Gray Plant Mooty law firm.
Andrew Adams joined Mairs & Power in 2006 as Vice President. He was appointed lead manager of the Mairs & Power Small Cap Fund which was launched in 2011. In 2015 Adams added the responsibility of co-managing the Mairs & Power Growth Fund and in 2016 he was named Executive Vice President.
About Mairs & Power
Mairs & Power is an independent, employee owned investment management firm focused on long-term performance. The firm's strength and success have been built by applying a consistent, conservative investment approach since 1931. The cornerstone of the firm's equity approach is a regional strategy with a heavy representation in stocks of companies headquartered in the Upper Midwest. Mairs & Power manages mutual funds and individually managed portfolios. As of June 30, 2017 Mairs & Power's assets under management totaled $9.6 Billion. For further information go to www.mairsandpower.com.
Investing in the Funds is subject to investment risks, including, but not limited to, possible loss of the principal amount invested.
ALPS Distributors, Inc. is the Distributor for the Mairs & Power Funds.
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SOURCE Mairs & Power