Board of Directors
Timothy J. Penny, Co-Founder & Vice Chair
Timothy (Tim) Penny was named as Southern Minnesota Initiative Foundation’s (SMIF) President/CEO April 2007. Penny’s extensive background complements SMIF’s key interests, including early childhood and entrepreneur development.
Penny represented Minnesota’s First Congressional District in the U.S. House of Representatives from 1982-1994. Previously, he was a member of the Minnesota State Senate from 1976-82. Most recently, Penny was a Senior Counselor at Himle Horner, a Twin Cities-based public affairs firm, and a senior fellow at the Humphrey Institute.
As a member of the Minnesota Senate, Penny served as vice-chair of the Transportation and Finance committees. While in Congress, Penny served on the Education and Labor, Agriculture and Veterans’ Affairs committees. He chaired the Subcommittee on Veterans’ Education and Training and the Foreign Agriculture and Hunger Subcommittee.
Throughout his congressional career, Penny placed an emphasis on budget issues. He chaired the Democratic Budget Group as well as the Porkbusters Coalition. Penny has co-authored three books: Common Cents; The 15 Biggest Lies in Politics; and Payment Due. Born and raised in southeastern Minnesota, Penny received his B.A. in political science from Winona State University and was Lieutenant Commander in the Navy Reserve.
Neel Kashkari, Chairman
Neel Kashkari took office as president and CEO of the Federal Reserve Bank of Minneapolis on Jan. 1, 2016, following a national search conducted by the Bank’s independent board of directors.
In this role, he serves on the Federal Open Market Committee, bringing the Ninth District’s perspective to monetary policy discussions in Washington, D.C. In addition to his responsibilities as a monetary policymaker, Kashkari oversees all operations of the Bank, including supervision and regulation, Treasury services, and payments services.
Kashkari leads the Bank’s many initiatives. Among them, he was instrumental in establishing the Opportunity & Inclusive Growth Institute, whose mission is to ensure that world-class research helps to improve the economic well-being of all Americans.
In addition, he directed Minneapolis Fed economists to examine Minnesota’s education achievement gaps. This research revealed deep, persistent disparities across race, ethnicity, and socioeconomic status, and has helped inform efforts to close these gaps and ensure every child receives a quality public education. This work supports the Fed’s mandate to achieve maximum employment, with education being a key to obtaining a good job.
Under Kashkari’s leadership, the Minneapolis Fed also released an action plan on ending too big to fail, which calls for tighter bank regulations to avoid future taxpayer bailouts of large financial institutions.
Committed to increasing transparency at the Fed, Kashkari has published in the Wall Street Journal, Washington Post, and Financial Times and is active on Twitter and Instagram. He serves on the boards of the Economic Club of Minnesota and the Urban Institute, and is a member of the Aspen Economic Strategy Group.
Kashkari began his career as an aerospace engineer at TRW (now Northrop Grumman) in Redondo Beach, California, where he developed technology for NASA space science missions. Following graduate school, he joined Goldman Sachs in San Francisco, where he helped technology companies raise capital and pursue strategic transactions.
From 2006 to 2009, Kashkari served in several senior positions at the U.S. Department of the Treasury. In 2008, he was confirmed as assistant secretary of the Treasury. In this role, he oversaw the Troubled Assets Relief Program (TARP) during the financial crisis. Kashkari received the Alexander Hamilton Award, the Treasury Department’s highest honor for distinguished service.
Following his tenure in Washington, Kashkari returned to California in 2009 and joined PIMCO as managing director and member of the executive office. He left the firm in 2013 to explore returning to public service and, in 2014, ran for governor of California on a platform focused on economic opportunity.
Raised in Ohio, Kashkari earned his bachelor’s and master’s degrees in mechanical engineering at the University of Illinois at Urbana-Champaign and his MBA from the Wharton School at the University of Pennsylvania.
He lives with his wife, Christine, children, Uly and Tecumseh, and Newfoundland dog, Webster, in Orono, Minnesota.
Dr. Christine Cumming, Director
Christine M. Cumming is the retired first vice president of the Federal Reserve Bank of New York and served as its chief operating officer. She was an alternate voting member of the Federal Open Market Committee. Dr. Cumming was born on June 6, 1952, in Minneapolis, Minnesota. She earned a B.S. and a Ph.D. in economics from the University of Minnesota.
Dr. Cumming joined the Bank’s staff in September 1979 as an economist in the International Research Department. While in the Bank’s International Capital Markets staff, she worked on topics such as the liquidity of banks and securities firms and the international competitiveness of U.S. financial institutions.
In January 1992, Dr. Cumming was appointed vice president and assigned to domestic bank examinations in Bank Supervision. She was active in the work of the Basel Committee, including the development of the market risk amendment to the Basel Accord. From March 1994 until September 1999, Dr. Cumming was senior vice president responsible for the bank analysis and advisory and technical services functions in the Bank Supervision Group.
Prior to being named to her current position, she was executive vice president and director of research with responsibility for the Research and Market Analysis Group. Dr. Cumming assumed these responsibilities in September 1999.
Christine M. Cumming is retired first vice president of the Federal Reserve Bank of New York and served as its chief operating officer. She was an alternate voting member of the Federal Open Market Committee.
Dr. Cumming was born on June 6, 1952, in Minneapolis, Minnesota. She earned a B.S. and a Ph.D. in economics from the University of Minnesota.
Dr. Cumming joined the Bank’s staff in September 1979 as an economist in the International Research Department. While in the Bank’s International Capital Markets staff, she worked on topics such as the liquidity of banks and securities firms and the international competitiveness of U.S. financial institutions.
In January 1992, Dr. Cumming was appointed vice president and assigned to domestic bank examinations in Bank Supervision. She was active in the work of the Basel Committee, including the development of the market risk amendment to the Basel Accord. From March 1994 until September 1999, Dr. Cumming was senior vice president responsible for the bank analysis and advisory and technical services functions in the Bank Supervision Group.
Prior to being named to her current position, she was executive vice president and director of research with responsibility for the Research and Market Analysis Group. Dr. Cumming assumed these responsibilities in September 1999.
Elliot Jaffee, Director & Treasurer
Elliot Jaffee is an accomplished financial services executive serving in numerous senior leadership roles, as well as an active and dedicated member of the community serving on several boards of directors.
Jaffee serves as Senior Advisor to McKinsey & Company. As EVP and Head of Strategy, Chief Administrative Officer for Corporate & Commercial Banking at U.S. Bank, he established a specialized team to transform the business through investments in technology, analytics, digital capabilities and ESG. Jaffee previously served as head of Commercial Banking and as Twin Cities Market President. Prior to joining U.S. Bank, Jaffee held corporate banking positions at Bank of America in New York and Chicago.
Jaffee’s leadership extends to several civic organizations. Currently, he serves on the boards of directors of the Economic Club of Minnesota, the U.S. Chamber of Commerce Center for Capital Markets Competitiveness in Washington, D.C, as well as the Center for Economic Inclusion and the Hill Museum and Manuscript Library. Jaffee has also served as Executive Sponsor for the Special Olympics Polar Plunge and on the boards of the Minnesota Chamber of Commerce and a number of other community organizations.
Jaffee earned his bachelor’s degree from Cornell University in Ithaca, New York, and his MBA from The University of Chicago Booth School of Business, where he graduated with honors.
Kate Kelly, Director
Kate Kelly was the executive vice president and regional president of PNC Bank, Minneapolis-St. Paul. Kelly was responsible for PNC’s overall market expansion in Minnesota and led a culture of teamwork, client advocacy and community leadership.
Kelly has more than 30 years of experience in the banking industry. Prior to joining PNC in January 2017, she served as president and CEO of Minnesota Bank & Trust. In 2008, Kelly, along with Heartland Financial and a group of local bankers and investors, founded Minnesota Bank & Trust. Prior to founding that bank, she was a regional president of Bremer Financial. She also worked at U.S. Bank for 18 years, most recently as district manager in corporate banking.
Active in the community, Kelly is on the board of ServeMinnesota, where she was previously board chair, and received the 2018 Outstanding Commissioner national award. Kelly is also a board member with Ampact, Inc., with the Children’s Theatre Company, and the Economic Club of Minnesota. In addition, Kelly is a member of Chapter One, Minnesota Women’s Presidents Organization, the Minnesota Chapter of Women Corporate Directors, and Minnesota Women’s Economic Roundtable. Kelly was previously a member of the board of directors and the chair of the Audit Committee of the Federal Reserve Bank of Minneapolis, the Minnesota Orchestra Association, and the Science Museum of Minnesota.
In recognition of her professional and community accomplishments, Kelly recently received the Twin Cities Business Women’s Leadership Award. She has been recognized as one of the Top Women in Finance and is included in the Circle of Excellence by Finance and Commerce and was named an Industry Leader by the Minneapolis/St. Paul Business Journal. In addition, she also received the Minnesota Women Achievement Award and Innovation in Finance Award from the National Women Business Owners (NAWBO). Kelly delivered St. Catherine University’s commencement address and has spoken at St. Thomas University’s First Friday Luncheon along with a variety of industry and educational venues.
Kelly holds a master’s degree in finance from the University of Minnesota Carlson School of Management and a bachelor’s degree in economics and humanities from the St. Catherine University in St. Paul.
Martha "Muffy" MacMillan, Director
Martha (Muffy) MacMillan has served as a Director on the board of Cargill Inc. and as a Director on the Cargill Foundation, her family business.
She serves on many international, national and local boards, such as; Chairman of the American Federation of Arts (New York), Chairman of Global Minnesota, and Director on the boards of Opportunity International, including chairing their $50,000,000 agriculture capital campaign and currently chairing Women and Girls Leadership Initiative, Ellis Island Honors Society (New York), Opportunity International Colombia S.A. Compañía de Financiamiento (OI Bank Colombia), The Economic Club of Minnesota, The Walker Art Center, Twin Cities Public Television, PACER Center, Alight (formerly American Refugee Committee), and Abbott Northwestern Hospital.
In 2015, Muffy was honored to receive the Ellis Island Medal of Honor. The EIMH is given to individuals who have made it their mission to share with those less fortunate, doing so while acknowledging their debt to their ethnic heritage as they uphold the ideals and spirit of America. In 2015, Muffy also received the Pioneer Award from The Women’s Entrepreneurship Day Organization, at the United Nations, which honors distinguished women who are leaders and innovators with inspiring accomplishments. In 2019, Muffy received the Outstanding Individual Philanthropist honor from the Minnesota Chapter of the Association of Fundraising Professionals (AFP).
For the past 25 years, she has been a board member, donor, fundraiser, and/or volunteer for many organizations such as; Minnesota Children’s Museum, Children’s Hospital of Minneapolis and St. Paul, Blake School, Governor for Eleven Who Care, ARC and Minneapolis Institute of Art. Through her nonprofit work, Muffy has been privileged to spend time in over twenty-five countries, including extensive time throughout Africa, India, Colombia, to mention a few. She is an active participant who enjoys being fully engaged with each organization’s mission and brings experience, leadership, energy, and financial support to help reach their goals and objectives. Her passion for family and raising 5 children always remains in the forefront.
Ben Omorogbe, Director
Ben Omorogbe was Vice President and Group General Counsel at The Travelers Companies, Inc., where he led the group of attorneys and legal professionals responsible for the company’s Product Development and Coverage Analysis; Risk Management; and Financial Sanctions & Anti-Money Laundering Compliance. He’s the current Chair of the American Property Casualty Insurance Association’s subcommittee on Anti-Money Laundering and Economic & Trade Sanctions.
Prior to joining Travelers in 2002, he was a partner in the Corporate Law Practice Group at the law firm of Gray Plant Mooty, P.A. (now Lathrop GMP LLP), the oldest continuous law firm in Minneapolis. Before becoming an attorney, he was a senior regulator with the Minnesota Public Utilities Commission.
Ben has served as a director for numerous legal, business and civic organizations. He is a co-founder of the Minnesota Association of Black Lawyers and served two terms as its President. He is also a past member of the Board of Trustees of William Mitchell College of Law where he Chaired the Academic Affairs Committee and was a member of the Audit and Finance Committee. He is a former member of the board of directors of the Minnesota State Bar Association and co-chaired its Diversity Committee. Most recently, the Minnesota Supreme Court appointed him to the Minnesota State Board of Continuing Legal Education.
Ben earned his bachelor’s degree from Southern University in Baton Rouge, Louisiana; M.B.A. from Southeastern Louisiana University in Hammond, Louisiana; and Juris Doctor from William Mitchell College of Law, where he was a Richard Golling scholar, student body president and recipient of the Student Award of Merit for his graduating class. Ben is admitted to practice law before the United States Supreme Court.
Erik Paulsen, Director
Congressman Erik Paulsen represented Minnesota’s Third Congressional District from 2009 – 2019. He served as a leading member on the chief tax writing House Ways and Means Committee, which has jurisdiction over health care, economic and trade policy. Erik also was the Chairman of the Joint Economic Committee, focusing on innovation, entrepreneurship, access to capital, digital trade, and key economic issues, while working with the President’s Council of Economic Advisors and Federal Reserve Board.
Erik served as co-chair of the House Medical Technology Caucus and was the premier leader and advocate for the medical technology industry, the lifesaving technologies it provides to patients, and the hundreds of thousands of jobs it supports.
In addition, Erik was a member of the Deputy Whip Team and co-chaired the Digital Trade Caucus and the Transatlantic Trade and Investment Partnership Caucus to promote trade with Europe.
In 2019, Paulsen served as co-chair of the Pass USMCA Coalition, a group of trade associations, businesses and advocacy groups working together to ensure swift passage of the United States-Mexico-Canada Agreement. He serves as an independent director on the board of Pediatric Home Service Inc. and is the Chairman of the Institute for Gene Therapies. Erik also is a Strategic Advisor at Total Spectrum, a government affairs firm. In addition, Erik is a board member of the Economic Club of Minnesota.
Prior to his service in Congress, Rep. Paulsen was a member of the Minnesota State Legislature, where he served as House Majority Leader. Erik has over 16 years of business experience, including working as a business analyst at Target Corporation. He received his B.A. in mathematics from St. Olaf College and resides in Eden Prairie with his wife and their four daughters
Jeannine Rivet, Director & Secretary
Jeannine Rivet is an active board member, advisor, mentor, and coach. Retired Executive Vice President of UnitedHealth Group, Jeannine Rivet worked with and on behalf of all business segments in areas focused on strategic business relationships, clinician advancement, culture, and social responsibility. Previous roles at UnitedHealth Group include CEO of UnitedHealthcare, CEO of Ingenix and CEO of Optum. Prior to joining UnitedHealthcare Corporation, Jeannine held various other managed care and nursing positions.
Jeannine received a Masters in Public Health from Boston University. She also holds a B.S. in Nursing from Boston College and practiced as a registered nurse for several years prior to entering the managed care industry. She is on numerous business boards and advisory councils and is a mentor to men and women in business. She has been recognized by AAHP, Boston University School of Public Health, Fortune magazine, Girl Scouts of Minnesota and Wisconsin River Valleys, Minneapolis St. Paul Business Journal, Minnesota’s City Business, Minnesota Women’s Health Leadership TRUST, Twin Cities Business magazine, Linkage, the American Association of Colleges of Nursing, and the American Heart Association – Twin Cities. She also is a Fellow of the American Academy of Nursing. She is a driving force in challenging the industry to enhance health and well-being through information, collaboration, and advancement of optimal healthcare.
Stephen W. Sanger, Director
Stephen W. Sanger is retired chairman and CEO of General Mills, one of the world’s largest food companies with a roster of popular consumer brands that includes Cheerios, Yoplait, Pillsbury, Betty Crocker, Nature Valley and many others. Sanger joined General Mills in 1974 and progressed through a variety of positions in marketing management across the company’s consumer food businesses. He served as Chairman and CEO from 1995 to 2007 and continued as Chairman of the Board through May 2008.
Sanger is a former Chairman of the Board of Wells Fargo & Company. He is a past director of Pfizer, Inc., Target Corporation, a member of the Business Council and past board member of Catalyst, the National Campaign to Prevent Teen Pregnancy, the Business Roundtable and past board chairman of the Guthrie Theater. In 2007, he was appointed by the President of the United States to serve on the Advisory Committee for Trade Policy and Negotiations.
Sanger served as Chairman of the Economic Club of Minnesota, and is currently a trustee of DePauw University and an Advisory Board member of the Ross School of Business at the University of Michigan.
Sanger received a bachelor’s degree in history from DePauw University in 1968 and an MBA from the University of Michigan in 1970. From 1970 to 1973, he held marketing and sales positions with Procter & Gamble.
Sri Zaheer, Director
Srilata (Sri) Zaheer became the 12th dean of the Carlson School of Management at the University of Minnesota on March 8, 2012. She served in this role until July 2, 2023.
During her tenure as dean of the Carlson School, Sri launched a Military Veterans Initiative to help servicemen and women transition from military to business careers, resulting in the Carlson School being named the number one Military Friendly business school in the nation. Sri increased the business community’s engagement with the school, resulting in a wealth of new experiential learning opportunities for students, and oversaw the introduction of new degrees in business analytics, supply chain management, finance, and new programs in partnership with Tsinghua University in Beijing and Tongji University in Shanghai, as well as online degrees and certificates.
Sri holds the Elmer L. Andersen Chair in Global Corporate Social Responsibility and her research focus is on international business — a topic on which she has published extensively. She is a Fellow of the Academy of International Business, and a former Consulting Editor of the Journal of International Business Studies. In 2018, Zaheer received the PwC Strategy& Eminent Scholar Award, for lifetime achievement in scholarship from the International Management Division of the Academy of Management.
Prior to academia, Zaheer worked for multinationals such as Tata Consultancy Services and Sandoz (India) Ltd. She also reported on politics and business from India and Nigeria for Business International. These experiences have provided the foundation for her research in international business, as well as leading the Carlson School’s engagement with the corporate community.
Sri serves on the board of the Federal Reserve Bank of Minneapolis, where she is currently serving as chair. She previously served on the boards of the Graduate Management Admission Council (GMAC), Greater Twin Cities United Way, the Guthrie Theater, and the Destination Medical Center Economic Development Agency of Mayo Clinic in Rochester, MN.
In 2021, the Minneapolis/St. Paul Business Journal honored Sri’s professional achievements, leadership qualities, and contributions to the broader Twin Cities community with its Women in Business Career Achievement Award. In 2020, for her service on the Board of Directors of the Federal Reserve Bank of Minneapolis, Sri was named an Outstanding Director by Twin Cities Business (TCB). In 2019, Sri was recognized as part of the publication’s TCB 100: The 100 People to Know in 2020. Also in 2019, Sri was inducted into the Junior Achievement of the Upper Midwest Business Hall of Fame and honored as a Woman of Distinction by the Girl Scouts of Minnesota and Wisconsin River Valleys. In 2013, Sri was recognized as a Women in Business award winner by the Minneapolis/St. Paul Business Journal.
Ronald Schutz, Director
Ronald J. Schutz is an experienced trial attorney, a member of the firm’s Executive Board and immediate past Chair of the Board. Mr. Schutz is a Fellow of the American College of Trial Lawyers, which is the preeminent organization of trial lawyers in North America. Becoming a Fellow is by invitation only and membership is limited to 1% of the total lawyer population. He is included in many top lawyer lists, including The Best Lawyers in America and the Lawdragon 500. Based on his $89 million trial victory in Grantley v. Clear Channel, The National Law Journal named Mr. Schutz to its annual list of the ‘‘Top 10 Winning Litigators in the United States.’’ In 2024 he was named to Forbes’ inaugural list of America’s Top 200 Lawyers. Mr. Schutz is a frequent lecturer and author on topics related to litigation and trials and he is often quoted in the business and legal press. He has also appeared on the NBC Nightly News and the CBS Morning News.
Mr. Schutz has extensive trial experience. Among his significant jury verdicts and judgments are the following: $110 million (Fonar v. GE); $89 million (Grantley v. Clear Channel); $35 million (St. Clair v. Canon); $25 million (St. Clair v. Sony); $12 million (Personal Audio v. Apple); and $6 million (with settlement of $13.5 million after verdict) (Megdal v. La-Z-Boy).
According to Chambers, Mr. Schutz “is incredibly sharp, well-spoken and powerful in every sense, yet also humble and kind with his clients.” He is described as an “excellent lawyer and great negotiator.”
Mr. Schutz is extensively involved in community and public affairs. He is a former chair and current board member of the Center of the American Experiment and a member of the Board of Directors of Tee It Up for The Troops. He is also a member of the University of St. Thomas Law School Board of Advisors, a former member of the Advisory Board of the Minnesota Law Review, and a past president of the University of Minnesota Law School Alumni Association. In addition, he has served as chair of the Minnesota Commission on Judicial Selection (appointed by Governor Pawlenty). Mr. Schutz also served as chairman of the Board of Directors of Pawlenty for President (2011-2012).
Mr. Schutz attended Marquette University on an ROTC Scholarship where he graduated magna cum laude with a degree in Mechanical Engineering. Mr. Schutz graduated with honors from the University of Minnesota Law School where he was a member of the Law Review. After law school, he fulfilled his military obligation by serving four years in the United States Army JAG Corps stationed with the 7th Infantry Division where he tried twenty jury trials. His notable military trial victories include a murder acquittal when he was serving as defense counsel and a conviction and 50 year prison sentence in a rape case when he was serving as a prosecutor.
Mr. Schutz is married to his high school sweetheart Janet and they have three adult children. Mr. Schutz has run several marathons and triathlons and enjoys outdoor adventure activities. He has trekked to Mount Everest Base Camp, Machu Picchu, and climbed Mount Kilimanjaro.
Mark Kennedy, Co-Founder & Chairman Emeritus
Mark Kennedy is Chairman Emeritus of the Economic Club of Minnesota and President Emeritus of the University of Colorado. Kennedy currently serves as a Global Fellow with the Science and Technology Innovation Program at the Wilson Center for International Scholars, as a United States Air and Space Force Civic Leader advising the Secretary of the Air Force and as a member of the Council on Foreign Relations.
A first-generation college graduate, Kennedy has led at the highest levels of academia, government, and business. He served as President of the University of Colorado and of the University of North Dakota. Mark authored Shapeholders: Business Success in the Age of Activism, published by Columbia University. Kennedy served as a United States Congressman (Minnesota) and as a presidentially appointed trade advisor under both President George W. Bush and President Barack Obama. Mark was treasurer of the company known today as Macy’s, helped Pillsbury buy and expand Häagen-Dazs and served in a global role for Accenture. He earned a bachelor’s degree from St. John’s University and a Master’s in Business Administration with distinction from the University of Michigan.
David Frauenshuh, Founding Director Emeritus
David Frauenshuh has more than 45 years of experience in commercial real estate. With his extensive management and marketing expertise, he has built a reputation for himself as well as for Frauenshuh, Inc. Today, he has property ownership interest in approximately 25 states. Within the industry, the name Frauenshuh is synonymous with honesty and integrity.
Frauenshuh, Inc. has expertise in the area of development and financing of Medical Office Buildings, Integrated Ambulatory Centers, Inpatient Hospitals, Outpatient Surgical & Imaging Centers and Full-Service Medical Campuses. Frauenshuh also has expertise in headquarters development and acquisition of commercial real estate. Currently, David Frauenshuh, has financial interest in several other companies and serves as a real estate advisor to many organizations.
Mr. Frauenshuh is a graduate of Minnesota State University of Mankato and received the Distinguished Alumni Award in 2011. A native of the Saint Paul area, he is a member of the National Association of Industrial and Office Parks and the Building Owners and Management Association (founding member RPA designation). Mr. Frauenshuh serves on the Board of many profit and non-profit organizations, including the following, Economic Club of Minnesota Board, Nanocopoeia Board, the National Prayer Breakfast Business Leaders Committee, the Children’s House of Hawaii Board, and Salvation Army National Advisory Board. He also performs outreach and Christian missionary work with several charitable organizations. Mr. Frauenshuh previously served as the Public Interest Director of the Federal Home Loan Bank of Des Moines for the Federal Housing Finance Board, Board member of Cornerstone Capital Management, Inc., Chairman of the Minnesota Prayer Breakfast, and Board member of Minnesota Military Family Foundation. He received the Minnesota Business Hall of Fame Award in 2010.
Sid Verdoorn, Founding Director, Emeritus
Sid Verdoorn, 69, is the former CEO and Chairman of the Board for C.H. Robinson WorldWide. He served over 40 years with C.H. Robinson, working his way from an entry level sales position to assuming the Presidency of the company in 1977.
Sid was born in Hollandale, Minnesota. After graduating from Albert Lea High School in 1957, Sid attended Central College in Iowa and served in the United States military. He joined C.H. Robinson in 1963, initially serving as a salesperson and then early in his career opening the C.H. Robinson San Francisco branch office. His achievements in the field, combined with his leadership abilities, landed him the position of personnel director for the company in 1971, an instrumental position because C.H. Robinson is a service business. The quality and management of its employees are keys to the company’s success.
After serving as a Vice President, Sid was named President of C.H. Robinson in 1977, and then later Chairman and CEO. He was instrumental in overseeing and developing strategic growth plans, setting the vision, and leading the company to its current international size and status as a highly successful, publicly-traded company on the Nasdaq. He retired as Chairman of the Board in December 2006.
Sid has served on the Boards of Directors for G&K Services, a publicly-traded company based in Minnesota, and the Schwan Food Company. He also served on the Boards the United Fresh Fruit and Vegetable Association and the Produce Marketing Association.
In addition to his professional activities, Sid has served on several church and community projects.
Sid and Carol Verdoorn have been married for nearly 50 years, and have three sons and five grandchildren. They currently reside in Minnetonka, Minnesota and Scottsdale, Arizona.
Founded in 1905, C.H. Robinson Worldwide, Inc., is a global provider of multimodal transportation services and logistics solutions, serving over 29,000 customers through a network of approximately 220 offices in North America, Europe, Asia, and South America. The company works with 48,000 transportation providers worldwide. C.H. Robinson is publicly traded on the Nasdaq as CHRW. C.H. Robinson is a Fortune 500 company and one of the largest third-party logistics companies in the world, with gross revenues of approximately $7.3 billion. For more information about our company, visit our Web site at www.chrobinson.com.
William "Bill" Frenzel, Co-Founder (1928-2014)
Bill Frenzel was a guest scholar at the Brookings Institution since January 1991, when he retired from the U.S. House of Representatives after serving his Minnesota constituency for twenty years.
Frenzel was the ranking minority member on the House Budget Committee and was the principal Republican economic spokesperson in the House. He was a member of the House Ways and Means Committee and its Trade Subcommittee, and was a congressional representative to the General Agreement on Tariffs and Trade (GATT) in Geneva for fifteen years. In 1993, he was special advisor to the president for NAFTA.
In 2001, President Bush appointed him to the Social Security Commission, and in 2002, to the Advisory Committee on Trade Policy and Negotiations (ACTPN), which he chaired. In January, 2005, he was appointed to President Bush’s Tax Reform Commission.
He was the vice chairman of the Eurasia Foundation, chairman of the US Steering Committee of the Transatlantic Policy Network, co-chairman of the Center for Strategic Tax Reform, co-chairman of the Bretton Woods Committee, co-chairman of the Committee For A Responsible Federal Budget, chairman of the Pew Commission on Children in Foster Care, a member of the Executive Committee of the Committee on U.S.-China Relations, and chairman of the Executive Committee of the International Tax and Investment Center.
Frenzel and his wife, Ruthy, were the parents of three daughters and grandparents of two perfect grandchildren.
Mark Olson, Director (1943-2018)
Mark Olson’s distinguished career in financial services spanned over 40 years, including top-level executive positions in the public and private sectors. Mark was the Co-Chair of Treliant Risk Advisors dating back to 2009, following three years as Chairman of the Public Company Accounting Oversight Board, five years as a member of the Federal Reserve Board of Governors and the Federal Open Market Committee, and after serving as staff director of the Securities Subcommittee of the U.S. Senate Committee on Banking, Housing and Urban Affairs.
Mark is also a past President of the American Bankers Association. Mark spent more than a decade as a partner with Ernst & Young LLP (formerly Arthur Young & Company), where he became national director of the financial services Regulatory Consulting Practice.
Mark began his career at First Bank System (now U.S. Bancorp) after which he served in Washington, DC as Legislative Director in the office of Congressman Bill Frenzel (R-MN). In 1976 he was named President and CEO of Security State Bank, a Minnesota community institution founded by his father. He served as President and CEO of Security State Bank until joining Ernst & Young in 1988.
In addition to his Treliant responsibilities, Mark is a board member of Otter Tail Corporation; a member of Ernst & Young’s Global Advisory Board; a member of the College of William and Mary’s Advisory Board for the Master’s in Accounting program; and the University of Maryland Advisory Board for Financial Policy.
Mark holds a BA in economics from Saint Olaf College in Minnesota and was named a Distinguished Alumnus in 2003.
