Gregg Steinhafel’s compensation fell during the company’s latest fiscal year, but he’ll receive a severance package worth millions following his “involuntary termination for reasons other than for cause.”
Banking + Finance
Jason Bristow, a 10-year vice president and treasurer at Amazon, returned to his native Minnesota Monday to serve as chief financial officer for a growing software firm.
Herbert Richard Lawson was accused of tipping off his brother and another company cofounder with insider information; the three men will pay nearly $6 million but didn’t admit wrongdoing.
Founded by local businessman Jeff Mack, Cachet Financial Solutions significantly narrowed its net loss in its most recent quarter and increased revenue, and is now planning a stock offering.
Marketing and technology consultancy Magnet 360, which has been growing at breakneck speed, acquired a Los Angeles-based company and now has about 110 employees.
The founders of I See Me! sold the publishing company to The McEvoy Group, but they will stay on and keep its headquarters in the Twin Cities.
Mosaic will “eliminate only a small number of positions in Plymouth,” where the company is headquartered.
Advantus Capital Management is adding about $300 million in assets to the $29 billion it already manages.
The program's organizers said many similar organizations have surfaced since its inception, and one of them, Gopher Angels, will take over some of the work previously performed by the Minnesota Angel Network.
Qumu Corporation struck a deal to sell its Rimage disc-publishing business to focus exclusively on video content management software.
Industry group LifeScience Alley tallies $60 million raised in the first quarter, a 25 percent increase.
House Capital Investment Chairwoman Alice Hausman has introduced a $125 million proposal that pays cash for a handful of construction projects out of the state’s $1.2 billion surplus.
Thrivent wanted to give its customers a greater voice, which brought it noisy dissent.
The Federal Trade Commission voted to block Jostens’ planned acquisition of American Achievement Group Holding Corporation; Jostens abandoned the deal, saying that fighting regulators would be costly.
Investors poured half a billion dollars into a firm that many Minnesotans have never heard of.
The Supreme Court's ruling in favor of Republican donor Shaun McCutcheon was another signal to advocates that the Roberts court will be receptive to challenges to campaign finance laws.
The increase in sales for the medical device manufacturer’s implanted defibrillators and pacemakers contributed to its strong first quarter.
The Minneapolis-St. Paul metro area placed 9th on a ranking of the best neighborhoods for millennials by Niche.com, due largely to its low rent and unemployment rates.