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John F. Grundhofer
American businessman (1939–2021) From Wikipedia, the free encyclopedia
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John F. Grundhofer (January 1, 1939 – January 24, 2021)[1][2][3] was a director of Donaldson Company,[4] Securian Financial Group Inc.,[5] and BJ's Restaurant & Brewery.[6] He served as Chairman (1990–1997 and 1999–2002), Chief Executive Officer (1990–2001) and President (1990–1999 and 2000–2001) of U.S. Bancorp (formerly First Bank System),[7] a financial services provider. On retirement he was succeeded by his brother Jerry Grundhofer.
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Early life
He was a graduate of Loyola High School (Los Angeles) and Loyola Marymount University.[8] He received an MBA in Finance from the University of Southern California.[9]
Career
During his tenure at U.S. Bancorp, Grundhofer was credited with transforming the institution from a regional bank into one of the nation's largest, emphasizing efficiency and strategic acquisitions. His leadership style emphasized cost control, leading to several high-profile mergers during the 1990's.[10]
After retiring, Grundhofer chaired the board of the Guthrie Theater and served on the boards of the Minnesota Orchestra and the University of St. Thomas.[3]
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Personal life
Grundhofer was purportedly kidnapped from a Minneapolis parking garage in November 1990. He escaped after being bound and stuffed in a sleeping bag. No one was ever charged in the kidnapping.[11][12]
Grundhofer passed away on January 24, 2021 in Palm Desert California, at the age of 82.[3]
See also
References
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