Author Archive | Patrick Rehkamp

<img src="https://media.bizj.us/view/img/845291/kenpowellgeneralmillsmn*100xx711-710-482-130.jpg">Former General Mills Inc. CEO Kendall Powell received $9.2 million in his last year on the job. That represented a 17 percent drop in compensation, according to a disclosure the company recently released.

Powell stepped down at the end of May and was replaced by Jeff Harmening, effective June 1, the company announced.

Harmening had been the company's president and chief operating officer since July 1, 2016, and joined the company in 1994. Powell will continue to serve as chairman of the board for…<div>
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Kendall Powell’s compensation dipped in last year as General Mills CEO

Former General Mills Inc. CEO Kendall Powell received $9.2 million in his last year on the job. That represented a 17 percent drop in compensation, according to a disclosure the company recently released. Powell stepped down at the end of May and was replaced by Jeff Harmening, effective June 1, the company announced. Harmening had […]

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<img src="https://media.bizj.us/view/img/5918901/holt-vicki-dsc5915*100xx1129-1125-824-720.jpg">Proto Labs has added Hewlett-Packard's multi-jet printing technology in an attempt to speed up its 3-D printing and manufacturing business by as much as ten times.

The Maple Plain-based company that provides rapid manufacturing of low-volume 3-D printed items and molded parts began testing the machines a year ago, according to the Star Tribune.

Hewlett-Packard's new 3-D printer is gaining the attention of manufacturers since it quickly fuses nylon powder into solid parts with the help of one sweeping…<div>
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Proto Labs partners with Hewlett-Packard

Proto Labs has added Hewlett-Packard’s multi-jet printing technology in an attempt to speed up its 3-D printing and manufacturing business by as much as ten times. The Maple Plain-based company that provides rapid manufacturing of low-volume 3-D printed items and molded parts began testing the machines a year ago, according to the Star Tribune. Hewlett-Packard’s […]

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<img src="https://media.bizj.us/view/img/10558347/169-business-center-spec-industrial37131000x667*100xx667-667-167-0.jpg">Staging Concepts, a maker of modular and architectural railing systems for commercial and multifamily structures, was sold to Trex Co. Inc. for $71.5 million, the companies announced recently.

Brooklyn Park-based Staging Concepts is projected to have roughly $56 million in revenue this year and the company's 150 employees in Minnesota will not be affected by the sale, according to a spokesperson.

Winchester, Va.-based Trex, which makes composite low-maintenance decking and railing material, reported…<div>
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Brooklyn Park-based Staging Concepts sold for $71.5 million

Staging Concepts, a maker of modular and architectural railing systems for commercial and multifamily structures, was sold to Trex Co. Inc. for $71.5 million, the companies announced recently. Brooklyn Park-based Staging Concepts is projected to have roughly $56 million in revenue this year and the company’s 150 employees in Minnesota will not be affected by […]

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<img src="https://media.bizj.us/view/img/8444382/john-gross*100xx384-384-0-16.jpg">Mark Gross, the president and CEO of Supervalu Inc., received roughly $4.7 million in the company's fiscal year 2017 (its most recently completed fiscal year). That's up almost $1 million from fiscal 2016, according to a company filing. The main driver of the increase was the $3.5 million in stock awards he received (other forms of compensation were down, which is why his total increase was only about $1 million.)

Supervalu has been active as of late and more news may be coming.

Recently, it bought…<div>
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Supervalu CEO Mark Gross received roughly $1 million raise in 2017

Mark Gross, the president and CEO of Supervalu Inc., received roughly $4.7 million in the company’s fiscal year 2017 (its most recently completed fiscal year). That’s up almost $1 million from fiscal 2016, according to a company filing. The main driver of the increase was the $3.5 million in stock awards he received (other forms […]

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<img src="https://media.bizj.us/view/img/10361330/best-dsc9861*100xx4560-4560-1240-0.jpg">The acquisition of Valspar Corp. by Cleveland-based Sherwin-Williams Co. is complete, according a filing released today, more than a year after the paint companies first announced merger plans

The merger, which marks the loss of a large public company here, was delayed several times to satisfy regulators overseeing the deal. Valspar recently sold off an industrial-coatings business to Axalta Coating Systems for $420 million to help facilitate the deal.

It's unknown what the deal will mean for employment…<div>
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Sherwin-Williams closes on deal for Valspar

The acquisition of Valspar Corp. by Cleveland-based Sherwin-Williams Co. is complete, according a filing released today, more than a year after the paint companies first announced merger plans The merger, which marks the loss of a large public company here, was delayed several times to satisfy regulators overseeing the deal. Valspar recently sold off an […]

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<img src="https://media.bizj.us/view/img/10472795/chsincjaydebertin*100xx280-280-0-10.jpg">Longtime CHS Inc. executive Jay Debertin has replaced Carl Casale as CEO, effective Monday, the company announced.

Debertin has been with CHS since 1984 and previously was the executive vice president and chief operating officer for the company's diverse energy operations and processing food ingredients business.

Casale had been with the company for roughly seven years. Over that time, CHS roughly doubled the size of its balance sheet from $8.7 billion in 2010 to $17.3 billion at the end of the…<div>
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CHS Inc. names new CEO, effective immediately

Longtime CHS Inc. executive Jay Debertin has replaced Carl Casale as CEO, effective Monday, the company announced. Debertin has been with CHS since 1984 and previously was the executive vice president and chief operating officer for the company’s diverse energy operations and processing food ingredients business. Casale had been with the company for roughly seven […]

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<img src="https://media.bizj.us/view/img/996901/maclennandavidcargill*100xx665-665-389-186.jpg">Cargill Inc.'s fiscal third-quarter profits rose 42 percent over the same period from a year ago due to improved performance in sweeteners, bio-industrials, ocean shipping and chocolate, the Star Tribune reports.

The company, which is the state's largest private company, adopted a more nimble business approach more than a year ago and the results appear to be paying off. Cargill has been spinning off less profitable divisions in the last year or so.

The Minnetonka-based agribusiness giant reported…<div>
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Cargill Inc.’s third quarter profits up 42 percent from year ago

Cargill Inc.’s fiscal third-quarter profits rose 42 percent over the same period from a year ago due to improved performance in sweeteners, bio-industrials, ocean shipping and chocolate, the Star Tribune reports. The company, which is the state’s largest private company, adopted a more nimble business approach more than a year ago and the results appear […]

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<img src="https://media.bizj.us/view/img/10084537/wineblueprint*100xx1815-1815-0-108.jpg">Two Minnesota wine makers are fighting a state law that requires wineries to grow more than half of the grapes they use in Minnesota, which can be difficult given the climate, Kare 11 reports.

Timothy Tulloch, of New Prague's Next Chapter Winery, Alexis Bailly Vineyard in Hastings and the Institute for Justice are the plaintiffs in the case and argue the restrictions needlessly hamper their businesses.

Local wineries could be the next boom in alcohol, as Minnesota's beer industry has skyrocketed…<div>
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Two Minnesota winemakers sue state over use of out of state grapes

Two Minnesota wine makers are fighting a state law that requires wineries to grow more than half of the grapes they use in Minnesota, which can be difficult given the climate, Kare 11 reports. Timothy Tulloch, of New Prague’s Next Chapter Winery, Alexis Bailly Vineyard in Hastings and the Institute for Justice are the plaintiffs […]

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<img src="https://media.bizj.us/view/img/5474201/inge-thulin-3m*100xx630-631-262-59.jpg">3M Co. President, CEO and Board Chair Inge Thulin's compensation dropped 14 percent year over year, according to a company disclosure released on Wednesday.

His 2016 compensation, which totaled $16.7 million, was down primarily because of a $2.6 million drop in pension value and non-qualified deferred compensation earnings.

Other executives named in the disclosure with multiple reporting years saw increases.

The company has been active as of late. 3M recently announced it acquired Scott Safety…<div>
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3M’s Inge Thulin’s compensation down $2.8 million year over year

3M Co. President, CEO and Board Chair Inge Thulin’s compensation dropped 14 percent year over year, according to a company disclosure released on Wednesday. His 2016 compensation, which totaled $16.7 million, was down primarily because of a $2.6 million drop in pension value and non-qualified deferred compensation earnings. Other executives named in the disclosure with […]

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