Trustees

Joseph S. Micallef - Mr. Micallef has been a Trustee since 1976 and currently serves as the Trust’s President and Chief Executive Officer. The President is the “active manager and executive officer in carrying on the business devolving on the trustees.” (§13 Trust Agreement). He is active in the day to day activities of the Trust. Mr. Micallef’s principal occupation for over 25 years was that of President and Chief Executive Officer of Fiduciary Counselling, Inc. whose principal business is to provide accounting, tax and investment services to individuals, trusts, partnerships, holding companies and foundations. He is also an attorney with considerable experience with trusts, estate planning and charitable foundations, and has served on a number of corporate and foundation boards.

Roger W. Staehle - Dr. Staehle has been a Trustee since 1982. He was the Dean of the Institute of Technology at the University of Minnesota from 1979 to 1983 as well as Professor of Chemical Engineering and Materials Science from 1979 to 1987. He is now an Adjunct Professor in that department. Prior to being at the University of Minnesota, he was Professor of Metallurgical Engineering at Ohio State University from 1965 to 1979. His specialty is in the degradation and prediction of materials, especially in nuclear energy applications. He was elected to the National Academy of Engineering in 1978 and is a Fellow of three technical societies. In addition, he was the International Nickel Professor of Corrosion Science and Engineering at Ohio State University. He is also an editor of over 20 books in his field. Dr. Staehle is now a worldwide consultant to governments and industries on the safe and reliable performance of nuclear reactors, and is considered an expert in metallurgy and minerals.

Robert A. Stein - Mr. Stein has been a Trustee since 1982. He was the Dean of the Law School for many years at the University of Minnesota. He was also the Executive Director and Chief Operating Officer of the American Bar Association until October 15, 2006. He now holds the Everett Fraser Professor of Law position with the Law School at the University of Minnesota as of September 1, 2006. His legal career has concentrated on estates, trusts, property law, estate planning and fiduciary obligations. He also serves as the Trust’s Audit Committee Chairman.

James E. Swearingen – Mr. Swearingen has been a Trustee since 2009. He formerly managed the largest mining operation in North America, which is U.S. Steel’s Minntac taconite facility in northeastern Minnesota on the Mesabi Iron Range, serving as General Manager of their Minnesota Ore Operations. He has also previously served as the co-chair on the Governor’s Committee on Minnesota’s Mining Future, as a director of the Iron Mining Association of Minnesota, as a director of the American Iron Ore Association, as a director of PolyMet Mining Corporation, and as a consultant in the mining industry. He is currently an advisory director on the University of Minnesota’s Natural Resource Research Institute.

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The Audit Committee is comprised of the three Trustees excluding the President. The Audit Committee generally meets twice each year with the external auditors to discuss new financial and reporting developments, annual audit results, internal controls, audit scope and fees and the Audit Committee Charter. In addition, the Audit Committee meets quarterly during the interim of the year primarily to review and address the results of the quarterly internal audit reports.