Mairs & Power Announces Executive Leadership Transition

Mairs & Power Announces Executive Leadership Transition

April 28, 2022

SAINT PAUL, Minnesota — Mairs & Power has announced Melissa Gilbertson as its new Chief Operating Officer. She replaces Andrea Stimmel who has stepped down as COO and will retire from the firm as of May 6, 2022. The management change became effective April 15, 2022.

“Andrea has had a spectacular career which culminated in her role as Chief Operating Officer of Mairs & Power,” said Mark Henneman, Chairman and CEO of Mairs & Power, Inc. “She made huge contributions to our operations, and we will continue to benefit from her work for years to come.”

Gilbertson’s move into the COO role was in development for the last few years, continuing Mairs & Power’s focus on transition planning. Prior to her promotion, she managed daily operations for the Information Technology and Trading Operations departments at Mairs & Power.

Gilbertson joined the firm in 2007 and brought with her a wealth of IT and project management skills from previous positions with Alerus Retirement Solutions, Fairview Health Services, and UnitedHealth Group. She earned a BA from the University of Minnesota and an MBA from the University of St. Thomas in Saint Paul. Gilbertson serves on the Boards of the Ordway Center for the Performing Arts, Episcopal Church Homes of Minnesota, and CFA Society of Minnesota.

“Melissa has an operations and project management mindset that has added value to our firm,” Henneman said. “We’re excited to see her expertise at work on the executive leadership team.”

Stimmel joined the firm in 2004 as an accounting manager and was appointed Director of Operations and Treasurer in 2008 before serving as Chief Compliance Officer from 2012-2016. She became COO in January 2018. Stimmel has volunteered with Public Art Saint Paul (PASP) since 2010, the Hazelden Betty Ford Foundation since 2017, and the Augsburg University StepUp Program since 2019.

About Mairs & Power

Established in 1931, Mairs & Power is as an independent, employee-owned investment advisory firm committed to pursuing long-term growth of our client’s portfolios. The firm’s mutual funds, individually managed accounts and recently established ETF are built on the strength and success of carefully selected, high quality stocks and bonds. One of the cornerstones of the firm’s equity approach is its regional strategy focusing on stocks of companies headquartered in the Upper Midwest. Mairs & Power manages mutual funds and individually managed portfolios. As of March 31, 2022, Mairs & Power’s assets under management totaled $11.5 billion. For more information, please the rest of our website.