Investment Team

Professional Team

Advisory Council

The big guns. We are honored to have the following people serve on the Winona Capital Advisory Council:

Brad Barnhorn Chairman & Chief Executive Officer, Bevology LLC

Mr. Barnhorn most recently served as equity sponsor and Chairman of two early stage food and beverage companies, Bevology and Wild Waters, and is highly involved in a range of roles and networks at the intersection of the food/beverage space and the private equity/financing communities. His career as an entrepreneurial leader, industry advisor and investor is focused on the development of innovative growth brands in emerging food, beverage and nutrition categories. Mr. Barnhorn was previously the Founder and CEO of the Fantasia Fresh Juice Company, a company which he built into the leading fresh juice/smoothie company in the Midwestern United States culminating in its acquisition by North Castle Partners and subsequent merger with Naked Juice.

Mr. Barnhorn currently serves as an independent director on the Board of Directors of Pint Size Corporation, Bonadea, Galaxy Granola and Deluxe Honeydrop. Additionally, Mr. Barnhorn’s private equity investments in consumer-facing companies include PopChips, Aidells Sausage, Ciao Bella Gelato, Mavericks SurfVentures, and Hydropoint Irrigation Systems.

Prior to focusing on the consumer products space in the mid 1990’s, Mr. Barnhorn’s background incorporated a broad range of industry and functional experience including Strategic Planning Associates (Corporate Strategy Development and Implementation across primarily consumer-focused businesses), LIAS, Ltd. (Director of a Division of the Hungarian state-owned technology company in Budapest), Swander Pace (Consumer Products Strategy and Operations consulting), and brief stints with P&G (Sales) and DLJ (Investment Banking). Mr. Barnhorn holds an MBA from Stanford University and a B.A. in Economics from the University of Virginia.

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John D. Cook Senior Partner and Director Emeritus, McKinsey & Company

John Cook is a Partner and Director Emeritus of McKinsey & Company. Mr. Cook has spent 25 years with the Firm, having completed consulting assignments across five continents. He led McKinsey’s Packaged Goods Practice, Food Retailing Practice, and the Firm’s Global Corporate Strategy Practice. He has led impact across a wide range of clients in a variety of industries, including consumer packaged goods, retailing, media, printing and industrial businesses.

Mr. Cook has played a significant role in helping clients with corporate strategy and governance, organizational design, and identifying, valuing, and integrating mergers and acquisitions. He frequently attended Board of Director meetings in an advisory capacity.

Mr. Cook also has held several line management positions. Early in his career he was in line marketing with Gillette and Procter & Gamble. More recently, he assumed the No. 2 position at The Kellogg Company for several years. While there, Mr. Cook played an instrumental role in turning around the company’s core business; acquired and integrated four high-growth strategic acquisitions; strengthened the company’s relationship with its major customers; and created a new innovation pipeline for the company’s R&D efforts. He led the creation of three new divisions that grew the Company’s top line by 30%; built a highly talented management team across the company; and doubled the company’s stock price.

Mr. Cook serves on the Boards of The Brown-Forman Company, Winona Capital Management, Chicago Public Schools (AUSL Turnaround Organization) and the Dean’s Advisory Board of the Ross School at the University of Michigan.

Mr. Cook was a Baker Scholar at the Harvard Business School, where he was given the Brown Award as the top marketing graduate. Prior to Harvard, he received dual degrees – with high distinction in business administration and with honors in economics – from the University of Michigan.

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Jerry Gramaglia Private Investor

Jerry Gramaglia is a private investor/advisor to technology driven consumer start-ups.

He also currently serves as a board director for Acxiom (ACXM), a leading data/marketing services provider, Coldwater Creek (CWTR), a multi-channel women’s retailer and WageWorks, a privately held provider of tax-advantaged employee benefits. In addition, Jerry serves as Co-Chair of the Stanford Stroke Center advisory board.

Jerry was most recently a partner with Arrowpath Venture Partners, a $325 million venture capital firm investing in early-stage technology start-ups. Prior to Arrowpath, he was President and COO for E*TRADE Group Inc. where he established E*TRADE as a leader in on-line banking and brokerage services.

Jerry began his career at Procter & Gamble in brand management and later held senior marketing and general management positions with Nestle, Imasco, PepsiCo and Sprint. He is a graduate of Denison University.

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Jack M. Greenberg Chairman, Western Union, Retired CEO, McDonalds

Jack M. Greenberg is the Chairman of Western Union Company, and the retired Chairman & CEO of McDonald’s Corporation. He was named Chairman of Western Union Company in September, 2006. He previously served McDonald’s Corporation as its President and CEO, and Chairman and CEO of McDonald’s USA, as well as Vice Chairman & Chief Financial Officer. Before joining McDonald’s, Mr. Greenberg was a partner and Director of Tax Services for both the Midwest Region and the Chicago office of Arthur Young & Company, and served on the firm’s Management Committee.

Mr. Greenberg currently serves on the boards of The Allstate Corporation, Hasbro, Inc., InnerWorkings, Manpower Inc., and The Western Union Company.

Mr. Greenberg’s civic involvement includes service on the boards of DePaul University, where he previously served as Chairman, the Institute of International Education, The Field Museum, Chicago Metropolis 2020, and the Advisory Committee of The Partnership for New Communities. He is also a member of the executive committee of The Chicago Community Trust.

A graduate of DePaul University School of Commerce, Mr. Greenberg also earned a juris doctor degree from DePaul University School of Law. He is a certified public accountant and a member of the American Institute of Certified Public Accountants, the Illinois CPA Society and the Chicago Bar Association, where he served as former chairman of the federal tax committee and chairman of the board of trustees of the Chicago Bar Foundation.

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Kenneth A. Harris, Jr. Managing Partner of Cadent Consulting Group, LLC

Ken Harris is a Managing Partner of Cadent Consulting Group, LLC. based in the Firm’s Chicago Office. Prior to joining Cadent, Ken served as the CEO of Kantar Retail Americas Consulting and was a Founding Partner, Owner and Board Member of Cannondale Associates. While at Kantar Retail, Ken led the three person senior management team responsible for overseeing all aspects of company operations. His primary responsibilities were the integration and expansion of the company’s consulting practice, interface with WPP, the international holding company of Kantar Retail and client business development. Ken was one of the five members of the Global Management Board of Kantar Retail, which was responsible for creating and implementing the objectives, growth and business strategies for the global organization.

Ken’s leadership at these firms focused on growth strategy for manufacturers, retailers and food service operators where he led engagements in the U.S., Canada, U.K. and Mexico. Ken’s work with corporate and private equity clients includes trade and revenue management, pricing, category leadership, organization design and strategy development and implementation.

Ken is also currently the Chairman of Enjoy Life Foods, the leading producer of Free From foods in the U.S. and Canada. The snacks Enjoy Life produces and the consumers for which these products are targeted are free from the eight most common allergens. Since Ken joined Enjoy Life in 2012, the company has doubled in size. He also serves on the Board of Fetch Rewards, a mobile shopping application and the USO of Illinois.

He is an author and frequent speaker at industry conferences. Ken has line management experience in marketing, trade marketing and sales at Jacobs Suchard and Coca-Cola Foods. He received his BA from The University of Michigan.

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John M. Heil Retired President, Lawry’s Foods, Inc. VP & GM Unilever North America

John Heil retired from Lawry’s Foods, Inc., in 2006 after a thirty-year career that included senior positions in Sales and Sales Management, Marketing, and President of this most dynamic consumer packaged goods brand. His experience crossed all disciplines of the business and he was instrumental in delivering rapid, continuous growth throughout his tenure, with innovation and new products being central to this success. John also served on the Board of Unilever North America.

Today, he remains affiliated with the Lawry’s brand as a very active member of Lawry’s Restaurants, Inc., Board of Directors, involved in formulating strategy development and growth initiatives. This has resulted in a career that now spans 40-years with Lawry’s.

Additionally, John serves on a number of other Boards (including Johnny’s Fine Foods and Winona’s Advisory Council), in addition to assorted philanthropic endeavors. He is currently pursuing a number of personal interests, including the production of a Broadway theatrical play, writing a book on wisdom, lecturing and teaching business leadership at USC, and motivational speaking engagements with Fortune 500 organizations.

John has both a Masters of Business Administration and an undergraduate degree in Business Administration from the University of Southern California.

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Paul Hylbert Chairman and CEO of Kodiak Building Partners

Paul Hylbert is currently Chairman and CEO of Kodiak Building Partners, a company recently formed to invest in building products distribution. Prior to forming Kodiak, Hylbert was CEO and a co-founder of ProBuild, the nation’s largest distributor of lumber and building materials.

Over a 40 year career, Hylbert held key management positions at Wickes Lumber, Wickes Europe, PrimeSource and Lanoga Corporation.

Hylbert grew up in the Chicago area (Evanston and Northbrook) and was educated at Denison University (BA) and the University of Michigan (MBA).

Paul and his wife have 3 children and 7 grandchildren and now reside in Denver, Colorado.

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Rhonda Jordan Retired Executive, Kraft Foods

Rhonda Jordan is a retired executive of Kraft Foods, where she held a variety of leadership roles during her 25-year career. She served as Operating Unit President of three different business divisions, including the U. S. Cheese, Grocery, and Frozen Pizza Divisions. She also served as President, Global Health & Wellness, and Sustainability, where she was responsible for development of Kraft’s health and wellness and sustainability strategies and plans across the company. Rhonda was a member of Irene Rosenfeld’s extended Kraft Executive Team.

Rhonda began her career at Kraft in the marketing function, which led to P&L responsibility for a diverse range of categories and businesses. In addition to her experience base in marketing and innovation, Rhonda’s general management positions expanded her responsibilities to include functional leadership of division sales, finance, operations, research and development, logistics, and strategy groups. She developed global experience as President of Global Health & Wellness and Sustainability, and also in a prior position as Senior Vice President of Global Cheese and Dairy, with responsibility for developing a global strategy for Kraft’s Cheese & Dairy business. Rhonda benefited from a broad range of roles throughout her career, leading both well-established and newly emerging businesses, while developing a track record for consistent delivery of results and development of high-performance teams.

Rhonda currently serves on the Board of Directors for Colfax Corporation (CFX), Ingredion Inc. (INGR), and Bush Brothers & Co. At Colfax she is Chairman of the Compensation Committee and a member of the Nominating and Corporate Governance Committee. She is a member of the Ingredion Compensation Committee, and chairs the Compensation Committee for Bush Brothers & Co. Rhonda is also on the Chicago Chapter Board of the National Association for Corporate Directors (NACD), and she serves on the board of IES Abroad (International Education for Students Abroad), a non-profit organization developing global study abroad programs for a consortium of approximately 250 U.S. Colleges and Universities.

Rhonda holds bachelor’s and master’s degrees from Northwestern University and the J.L. Kellogg School of Management. She lives in Wilmette, IL with her husband and two college-age sons.

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L. Daniel Jorndt Retired Chairman and CEO, Walgreen Co.

Dan Jorndt retired in January, 2003, as chairman of the board of Walgreen Co., the drugstore chain headquartered in Deerfield, Ill.

Mr. Jorndt earned a pharmacy degree in 1963 from Drake University, Des Moines, Iowa. He began his career with Walgreens that same year. After holding various store management positions, he became a district manager in 1968.

Mr. Jorndt, who earned a master’s degree in business in 1974 from the University of New Mexico, Albuquerque, was promoted to a regional director (1975), a regional vice president (1979), and vice president and treasurer (1982).

In 1985, Mr. Jorndt was named senior vice president and treasurer of Walgreen Co. He was promoted to president and chief operating officer in 1990, the same year he was elected to the Walgreen Co. board of directors.

Mr. Jorndt was named chief executive officer in January 1998 upon the retirement of Charles R. Walgreen III. In January 1999, he retained the CEO title while David W. Bernauer assumed the position of president and chief operating officer. Mr. Jorndt succeeded Charles R. Walgreen III as chairman of the board in July 1999, when Mr. Walgreen became chairman emeritus. In January 2002, Mr. Bernauer succeeded Mr. Jorndt as CEO, while Mr. Jorndt retained his position as chairman of the board.

Mr. Jorndt serves on the board of directors of the mutual fund, Investment Company of America (I.C.A.) and on the AMCAP Fund/American Mutual Fund, Inc.

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Kenneth C. “Casey” Keller, Jr. North America Regional President, Wm. Wrigley Jr.

Kenneth C. “Casey” Keller, Jr. was appointed to the position of North America Regional President at Wrigley in May of 2011.

Prior to Wrigley, Keller was with Alberto Culver where he was President of the U.S., responsible for leading the U.S. business to deliver sales and profit growth.

Prior to Alberto Culver, Keller was executive vice president and chief marketing officer of Motorola, Inc., responsible for company-wide marketing strategy development and execution.

From 1998-2006, Keller worked from the HJ Heinz company. He served as chairman and CEO of Heinz Italy, where he led a successful turnaround and revitalization of Heinz’s leading position in Infant Feeding and Medical Food in Italy. Previously, Keller was the chief growth officer for H.J. Heinz Company with responsibility for defining the strategy and key initiatives to drive profitable, topline growth and strengthening the focus on and plans for the company’s top brands. Prior to that role, Keller was managing director of Heinz’s U.S. Ketchup, Condiments & Sauces business and global category leader, Sauces & Condiments.

Before Heinz, Keller spent almost ten years in marketing and brand management at the Procter & Gamble Company, where he was responsible for Pringles, Duncan Hines and other leading consumer brands.

As an officer in the U.S. Navy, he led several divisions onboard the USS Dewey (DDG-45). Keller was also on the staff of the Deputy Chief of Naval Operations for Surface Warfare in the Pentagon. He was awarded the Navy Commendation and Achievement medals.

In 2001, Keller was named Grand Marketer of the Year by Brandweek magazine for the turnaround and growth of Heinz Ketchup.

Keller received a Bachelor of Arts degree in Economics and History from Cornell University and a Master’s degree in Business Administration from Harvard Business School.

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Crane Kenney President, Chicago Cubs

As the principal executive in charge of Cubs operations for the previous eight seasons, Crane has helped Chicago welcome over three million fans through Wrigley Field’s turnstiles each season since 2004, including a record mark of 3,300,200 fans in 2008.

Has led numerous projects to expand Wrigley Field’s seating capacity, including the construction of the CBOE Bullpen Boxes in 2008, Bud Light Bleachers in 2006, right field Bullpen Boxes in 2005 and Dugout Boxes in 2004.

Crane Co-founded Comcast SportsNet Chicago, the Cubs cable partner, with Jerry Reinsdorf in 2003 and has served on the Board of Directors since its formation.

From 2003-2009, increased the payroll by more than 70-percent, with the team winning the N.L. Central Division three times in those seven years.

Kenney holds a law degree from the University of Michigan and a bachelor’s degree from the University of Notre Dame.

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John J. Lewis President & CEO, Nielsen Consumer North America

John Lewis serves as President and Chief Executive Officer, Nielsen Consumer North America. In this role he is responsible for the overall management, business performance and strategic direction of ACNielsen in the United States. Lewis is also responsible for accelerating revenue growth across all VNU Marketing Information businesses in the US.

From 1994 to 1999, Lewis served as Executive Vice President, Marketing, ACNielsen USA. During his tenure, he improved the marketing function, accelerated product development, helped restore ACNielsen’s competitive leadership position and launched new products that today account for a significant portion of US revenues.

Lewis comes to ACNielsen from his role as President and CEO of Knowledge Networks, a venture-backed marketing information company. Knowledge Networks is a leader in the online marketing survey research space. Under Lewis’ direction, the company moved from a struggling start-up to a profitable and growing leader in this segment of the industry. Knowledge Networks served many of the same clients and business issues as ACNielsen.

Prior to Knowledge Networks, Lewis ran another venture-backed start-up as President and CEO of SMS Technology, an innovative provider of packaging to the Consumer Packaged Goods industry. Earlier in his career, Lewis was one of the first employees of The NutraSweet Company, where he held a number of executive positions including General Manager of the Consumer Products Division and Chief Marketing Officer.

Lewis holds a Masters of Business Administration degree from Northwestern University’s Kellogg School of Management and an undergraduate degree in Political Science from Princeton University.

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Jeffrey M. Nugent Chairman of Ascension Orthopedics

Jeffrey Nugent joined Sientra in 2014 as a board member, prior to becoming the Chairman and CEO in 2015. Mr. Nugent’s experience includes serving as the CEO and Worldwide President of Neutrogena, where he led the acquisition by Johnson & Johnson. Neutrogena is regarded as one of the most successful acquisitions in J&J history. Following Neutrogena, Mr. Nugent became the President and CEO of Revlon, where he led a turnaround in profitability and a global initiative of new product innovation.

He was Founder, President and CEO of Precision Dermatology, a multi-channel dermatology and skin care company he established in 2010. The company grew both organically and by M&A and was acquired by Valeant Pharmaceuticals in 2013. He began his career at Johnson & Johnson where he held a number of senior responsibilities in general management, research, finance, marketing and manufacturing across pharmaceutical, medical device and consumer franchises.

He was appointed Vice President of Worldwide Quality. Most recently, Mr. Nugent had been Interim President, Chief Executive Officer and a Director of Biolase, Inc. Mr. Nugent has also served as Chairman, Director, President and Chief Executive Officer of a number of aesthetic medicine, medical device and consumer focused companies including Bioform, Inc. prior to its acquisition by Merz Aesthetics, Inc. He has also served on the Board of the Child Welfare League of America. Mr. Nugent holds a B.S. in mathematics from St. Joseph's College and earned an M.B.A. in finance and marketing from Loyola University in Chicago. He served as an Artillery Officer in the U.S. Army while assigned to military intelligence at the Pentagon.

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Christine M. Owens Senior Vice President, Communications and Brand Management UPS Retired

Ms. Owens was responsible for leading the global communications and brand management function at UPS beginning in 2005. She was responsible for the first global communications platform, the Effie award-winning "We (heart) Logistics" and has introduced new models for integrated communications while expanding the company's social and digital platforms. Owens began her UPS career in 1979 as a part-time employee in Philadelphia, and eventually led some of the company’s largest business divisions, including serving as President of UPS's West and Southeast Regions.

She also has served as the Corporate Vice President of Transportation, where she directed the coordination, planning, and asset utilization of UPS's global air and ground operations, the largest integrated transportation network in the world. Owens served on the UPS Management Committee, which included the CEO, COO and other key leaders. Christine serves on the board of directors of the WPO (Women’s Presidents Organization), C&S Wholesale Grocers, JMI motorsports marketing, and also served on the Corporate Board of Advisors for the National Council of La Raza.

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Andrew B. Parkinson Co-Founder & President, Peapod LLC

As co-founder and CEO, Mr. Parkinson has overall responsibility for running Peapod LLC, an online grocery shopping and delivery service. He and his brother Thomas founded Peapod in 1989, took the company public in 1997, and sold it to Ahold in 2001. Peapod is currently a wholly owned subsidiary of Royal Ahold. Peapod currently has revenues of about $600 million and over 4,000 associates (commonly referred to as Podsters).

Prior to founding Peapod, Andrew spent eight years in marketing and management positions at Procter & Gamble and Kraft, Inc. He graduated from Wesleyan University in Connecticut with a B.A. in Economics and a concentration in Econometrics.

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Michael J. Smith President and Chief Executive Officer, Bag, Borrow or Steal

Smith has served as president or CEO at six consumer companies, with a proven track record in ecommerce and direct marketing that spans more than 25 years. He most recently served as president & CEO of a high growth consumer subscription company called Full Circle. Prior to that he served as president & CEO of Avelle/Bag, Borrow Steal, where he helped introduce the new category of online rental of consumer fashion goods. Previously he served as president & CEO of Classmates.com, a leader in online social networking and the 4th largest paid content site on the Internet at the time. While president of Nordstrom.com, he helped lead a turnaround that resulted in its first quarterly profit. In 1999 he founded LifeSketch.com, the first multi-functional scrapbooking site. As president & CEO of Lands’ End Inc. the $1.4 billion, international retailer, he launched LandsEnd.com, the first major retail website and executed a company turnaround that led to record sales and profits.

He has served on multiple corporate and advisory boards and was most recently a board member of REI, the $1.9 billion outdoor retailer. Smith is also an NACD Board Fellow.

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Don Thompson Founder and CEO, Cleveland Avenue LLC and Retired President & Chief Executive Officer McDonald’s Corporation

Don Thompson is a well-known and respected leader within the global business community and, currently, the Founder and Chief Executive Officer of Cleveland Avenue, LLC. Having recently served as the President and CEO of the largest restaurant business in the world, Thompson has driven results in both the US and International markets throughout his 25-year career at McDonald’s.

Thompson is known for innovative and strategic leadership and as a true advocate of franchisee collaboration having established strong relationships with the independent men and women who owned and operated 80% of the 35,000 McDonald’s restaurants in 120 countries around the world. Under his leadership, strategic business initiatives such as McCafe Beverages, Value Menu transitions, and the “partnering” investment strategy with the Franchisees were established and have created substantial shareholder value over the last decade. Most recently, Thompson initiated and led the organizational transformation toward developing both the McDonald’s Global Digital and Sustainability Strategies as well as the Burger Customization global food strategy.

Prior to joining McDonald’s, Thompson served six years as an Electrical Engineer for the Northrop Corporation where he specialized in power supply design and manufacturing for high technology countermeasure systems.

A leader in the business community and a tireless advocate of diversity and inclusion, Thompson serves on numerous civic and philanthropic boards. He is a member of the Executive Leadership Council, the Commercial and Economic Clubs of Chicago, Business Council, World Business Chicago and the Arthur M. Brazier Foundation. He serves as a Trustee on the boards of the Cleveland Avenue Foundation for Education, Northwestern Memorial Hospital and Purdue University. Thompson also serves on the boards of The Northern Trust Corporation, Royal Caribbean Cruises Limited, Beyond Meat and as an Advisory Board member of DocuSign, Inc. Thompson previously served as a Director on the Exelon Board from 2006-2012 and the McDonald’s Corporation Board from 2011-2015.

Thompson received a bachelor of science in Electrical Engineering from Purdue University and an Honorary Doctorate degree in Science from Excelsior College.

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Investment Staff