Robert W. Mairs has been named chief executive officer of money management firm Mairs & Power, succeeding Mark L. Henneman.
Henneman will remain as chairman of the board until he retires at the end of 2026, said a news release Oct. 1.
Mairs, who joined the firm in 2015 as general counsel, became chief compliance officer in 2017 and president in 2018. Mairs will remain as president, a spokesperson confirmed.
Mairs is a grandson of Mairs & Power founder George Mairs Jr., and a nephew of George Mairs III, the firm’s leader from the early 1980s until late 2000s.
Henneman initially joined the firm in 2004, and since then the firm’s assets under management grew to nearly $11.9 billion from $2 billion.
