Monday, October 28, 2024
H.B. Fuller Company (NYSE: FUL) announced the appointment of Teresa (Terry) J. Rasmussen as Chair of the company’s Board of Directors, effective January 22, 2025, following the retirement of Lee R. Mitau. Rasmussen, who joined H.B. Fuller’s board in 2020, succeeds Mitau, who served as Chair for several years and played a key role in guiding the company’s growth as a leading adhesives manufacturer.
“We are pleased to appoint a leader of Terry’s calibre as the new Chair of H.B. Fuller’s Board of Directors,” said Celeste Mastin, H.B. Fuller’s president and CEO. “Having worked closely with Terry, I know firsthand that she is a visionary leader who brings a global perspective and deep expertise in customer engagement and market strategy. Her background in financial services will be invaluable as we expand into high-growth markets and pursue our goal of achieving a 20% EBITDA margin.”
Rasmussen expressed her enthusiasm for her new role, saying, “It is an honour to be named Chair of H.B. Fuller’s Board. Since joining in 2020, I have been continually impressed by the talent across the organisation. I look forward to working even more closely with Celeste and the entire Board as H.B. Fuller continues to excel and innovate globally.”
The transition also marks a significant milestone for Mitau, who has played an influential role in H.B. Fuller’s success. “Lee has been a tremendous advisor to H.B. Fuller, and his dedication has been instrumental in establishing H.B. Fuller as the largest pure-play adhesives company in the world,” said Mastin. “On behalf of the Board, I want to thank Lee for his leadership and commitment. We wish him all the best in his retirement.”
Mitau reflected on his time at H.B. Fuller, saying, “It has been an honour to serve on the Board and to witness the company’s evolution and significant growth over the years. I have great confidence in H.B. Fuller’s leadership team and look forward to seeing what they accomplish next.”
About Terry Rasmussen
Terry Rasmussen, who brings extensive experience in corporate transformation and financial services, currently serves as president and CEO of Thrivent, a Fortune 500 diversified financial services company. Rasmussen joined H.B. Fuller’s Board in 2020 and is celebrated for her leadership and strategic insights. She previously served as president of Thrivent’s core life, health, and annuities business and has held key legal and managerial roles at American Express. Early in her career, she was a trial attorney with the U.S. Department of Justice, Tax Division.
A board member at the American Council of Life Insurers and the Walker Art Center in Minneapolis, Rasmussen holds a bachelor’s degree in accounting from Minnesota State University Moorhead and a Juris Doctor from the University of North Dakota.
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