MINNEAPOLIS ST PAUL BUSINESS JOURNAL

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  1. MyPillow lays off 140 employees in Twin Cities

    MyPillow laid off 140 employees at its Chaska and Shakopee locations last week, the latest in a string of setbacks for the Chaska-based pillow maker. In a statement to the Business Journal, Mike Lindell, founder and CEO of MyPillow, said the company hired roughly 500 employees in the last quarter of 2016 and planned to have enough business to avoid layoffs. "I do not take decisions like this lightly and value every one of my 1,600 employees," Lindell said. "This was very unexpected as we gave all…
  2. Wells Fargo board gets an earful — but no ouster — at shareholder meeting

    At an annual shareholders meeting Tuesday marked by anger and contrition, all 15 Wells Fargo board members up for re-election retained their seats — but 12 received votes from 80 percent of shareholders or less, falling below the traditional threshold considered a vote of confidence. “The shareholders have sent the entire board a message of dissatisfaction,” board Chairman Stephen Sanger (the former CEO of General Mills Inc.) acknowledged after the tally was disclosed at the meeting, held…
  3. Agropur USA receives national award for protein innovation

    Last year, Agropur USA, the makers of Schroeder brand dairy and beverage products, introduced a highly pure dietary supplement to the food market, one that will make it easier for people with dietary issues to still have a high-protein diet. For their innovation, the Eden Prairie-based company, a subsidiary of Canada-based Agropur Cooperative, became the first recipient of the Breakthrough Award for Dairy Ingredient Innovation given by the American Dairy Products Institute. Agropur received the…
  4. MTS Systems CEO Jeffrey Graves pay up $1M, new CFO announced

    MTS Systems Corp. CEO Jeffrey Graves had a good 2016 — financially at least. His compensation was up 55 percent year over year to almost $2.7 million, according to a disclosure the company recently released. All other named executives with multiple reporting years had nice bumps too, including at least one who's leaving. Brian Ross was recently promoted to senior vice president and chief financial officer, replacing Jeffrey Oldenkamp, who is resigning from the company. Ross, previously the company's…
  5. 2017 Titans of Technology: Mark Benson

    As chief technology officer for Exosite, Mark Benson is helping to shape the infrastructure for smart devices that allow for remote operation across networks - better known as the internet of things. Benson, a 20-year vet of the tech industry, helped develop Exosite’s Business Transformation Services, which helps “organizations understand the IoT ecosystem, prepare for the business implications of a connected product offering and develop an IoT strategy for long-term success.” Benson’s…
  6. 2017 Titans of Technology: Aaron Cannon

    Blind since birth, Aaron Cannon knows all about accessibility challenges, including when it comes to using the internet. He has parlayed that knowledge into a career as the co-founder of Accessible360, a company that performs live-user website accessibility audits, quality assurance testing and training. A software engineer by trade, Cannon has a decade of experience in website accessibility. He has worked with a variety of industries, including banking, education and retail, to improve websites…
  7. 2017 Titans of Technology: Steve Knutson

    A lot has changed in the four decades St. Cloud-based Marco has been in operation. As its chief technology and information officer, Steve Knutson is now helping drive the company’s evolution in the fast-paced world of technology, matching up customers with the right products for their business. In 2016, Marco acquired seven companies, while Knutson oversaw their integration and helped train sales managers, representatives and support technicians. He also worked to consolidate the company’s data…
  8. 2017 Titans of Technology: Mike McCullough

    For those facing a diagnosis of blood cancer, like leukemia or lymphoma, time can be of the essence. That makes Mike McCullough’s job as chief information officer at Be The Match all the more important. Be The Match manages the largest and most diverse marrow registry in the world. That registry connects cancer patients with potentially life-saving donors. McCullough joined the organization in 2015 and spent last year shepherding in the transformation of its technology systems, including major…
  9. Buffalo Wild Wings hits back at activist investor Marcato

    A date is set for a showdown between Buffalo Wild Wings and Marcato Capital Management, the activist investor that's been loudly calling for leadership changes at the sports-bar chain. CNBC reports on the latest salvo in the months-long war of words between the Golden Valley-based Buffalo Wild Wings and the hedge fund controlled by Mick McGuire, with Buffalo Wild Wings bashing McGuire's plan to sell most of the chain's stores to franchisees. "We believe that Marcato's plans for the business —…
  10. 3M boosts outlook after strong Q1

    3M Co. is expecting a better-than-expected 2017 after turning in surprisingly good results for its first quarter. MarketWatch has an early report on 3M's numbers, released Tuesday morning: The Maplewood-based manufacturer posted earnings of $1.32 billion, or $2.16 per share, up from $1.28 billion, or $2.05 a share in the same period a year ago. Revenue rose to $7.69 billion from $7.41 billion. Analysts, on average, had expected earnings of $2.06 per share on sales of $7.47 billion. RELATED: Read…