Board of Trustees
Norb J. Conzemius
Retired Chief Executive Officer, Road Rescue Incorporated
Norb J. Conzemius has served as a board member of the Mairs & Power mutual funds since 2000, including as a member of the Audit Committee and Nominating Committee, and has served as Independent Chairman of the Board of Trustees since 2006. Mr. Conzemius has more than 26 years of experience serving as senior executive officer in the financial service industry and more than four years as CEO of a private manufacturing company. Mr. Conzemius has served for more than 25 years on various boards for private companies, financial service companies and nonprofit organizations.
William B. Frels, CFA, CIC
President & Trustee
William B. Frels joined Mairs and Power, Inc. in 1992 as the lead manager of the Mairs & Power Balanced Fund after 30 years of investment management experience. He began co-managing the Mairs & Power Growth Fund in 1999 and took over as lead manager in 2004 while maintaining several individually managed account relationships. Effective July 1, 2013, Mr. Frels was named co-manager of the Mairs & Power Growth Fund and the Mairs & Power Balanced Fund. Mr. Frels served as Chairman and CEO from 2007 through 2012 and as Chairman of the Board since 2012.
Mr. Frels began his career with First National Bank of Minneapolis as a security analyst and later became Director of Research before spending several years at the First Trust Company of Saint Paul as a senior portfolio manager.
Mr. Frels earned a BBA in finance from the University of Wisconsin, Madison. Mr. Frels is a CFA charterholder as well as a Chartered Investment Counselor and is active in several community organizations.
Bert J. McKasy
Attorney, Lindquist & Vennum, P.L.L.P.
Bert J. McKasy has served as a board member of the Mairs & Power mutual funds since 2006, including as a member of the Audit and Nominating Committees. Mr. McKasy has more than 25 years of experience serving as senior executive officer of various operation companies and/or as a director of public companies. Mr. McKasy has more than 18 years of private practice experience as an attorney. Mr. McKasy has served as a senior executive officer and as a director in the financial services industry for more than 10 years, and has more than nine years of experience in public service, including having served for two years as commerce commissioner for State of Minnesota.
Mary Schmid Daugherty, CFA, PhD
Associate Professor, Department of Fianance, University of St. Thomas
Mary Schmid Daugherty has served as a board member of the Mairs & Power mutual funds since 2010, including as a member of the Nominating Committee and Chairman of the Audit Committee since 2012. Dr. Daugherty has been an Associate Professor of Finance at the University of St. Thomas in Saint Paul, Minnesota since 1987. Prior to that she was with First Trust, Inc. in Saint Paul for five years as an investment officer in its Investment Research Department. She also spent two years as a teaching assistant in the Finance Department of the University of Minnesota in Minneapolis. Dr. Daugherty is the author of several publications in the financial field and has received a variety of teaching awards. Her professional activities include memberships in the CFA Society of Minnesota, the Association of Investment Management and Research, The Family Firm Institute and the Financial Analysts Federation.
Jon A. Theobald
Secretary & Trustee
Jon A. Theobald joined Mairs and Power, Inc. in 2002 and was elected Chief Executive Officer in 2012. Mr. Theobald had previously served as President and Chief Operating Officer since 2007. Mr. Theobald is responsible for overseeing all aspects of the firm's business.
Mr. Theobald has over 40 years of industry related experience. Mr. Theobald began his career with First Trust, N.A. in Saint Paul as a Trust Officer, and worked for three other local trust companies before joining our firm. Prior to his position with Mairs and Power, Inc., Mr. Theobald served as a Senior Vice President at US Trust Company in Saint Paul.
Mr. Theobald earned his BA from St. John’s University in Collegeville, MN and went on to graduate from St. Louis University Law School in St. Louis, MO. Mr. Theobald was admitted to the Minnesota Bar in 1970 and has been involved in Bar Association activities at the state and local levels since then. He is also active in several community organizations.
If you wish to contact any member of the Funds' Board of Trustees, you may write to them at this address:
c/o Mairs & Power Funds
332 Minnesota Street
Suite W-1520, First National Bank Building
Saint Paul, MN 55101-1363
Conzemius, McKasy and Schmid Daugherty are independent trustees.