Former CEO, Tom Prosser, to remain Chairman of the Board
MINNETONKA, MN – Rainbow Companies announced that the company has appointed Greg Krogstad as Chief Executive Officer (CEO) and Shawn Bernick as Chief Operating Officer (COO) effective February 1st, 2024. Former CEO, Tom Prosser will continue in his role as Chairman of the Board of the employee-owned company, effective immediately. This transition sets up Rainbow Companies for a powerful new era of business and leadership in the Green Industry.
Greg Krogstad began his career in arboriculture as a field production arborist caring for trees. Greg joined Rainbow after graduating from college with a B.S. in Forestry in 1999. Greg’s passion for the environment and his dedication to caring for people have guided his career from crew leader to sales and operational management, leading to his current role in executive leadership. In his new role as CEO, Greg will continue leading Rainbow Companies to success in the markets of tree care, lawn care, pest control, utility vegetation management, research, and product development. “It is an exciting time in the Green Industry with new technologies and opportunities, but it will always be a people-driven business. I am privileged to lead an employee-owned company dedicated to its culture and values, investing in people who are committed to leaving the world in a better place,” says Krogstad. “Greg is one of the smartest people I know, he has a big heart for people and the world,” says outgoing CEO and founder, Tom Prosser, “His commitment to serving others and the world is evident in all his actions.”
Shawn Bernick, who holds an M.S. in Plant Pathology, has been an integral part of Rainbow’s research and development department since joining the company in 2003. Shawn has been a lead researcher on hundreds of field trials, forming relationships with scientists and industry leaders around the world working to improve green industry practices. Shawn took his passion for discovery from science to leadership when he took over the role of General Manager for Rainbow Ecoscience in 2014. In his new role as Chief Operating Officer, Shawn brings the same unwavering integrity to leading and developing the business as he did to his scientific research. “Rainbow is a unique company with some of the most dedicated and committed people in the industry,” says Bernick, “We see the positive impact our work makes on the world, and it drives us to continually improve.” Shawn’s role as General Manager for Rainbow Ecoscience equipped him with the skills and experience to advance into an executive position, managing all aspects of Rainbow Companies. “Shawn is the exceptional blend of scientific thinker and driven entrepreneur,” says Prosser, “He is a perfect fit for leading these businesses into the future.”
Tom Prosser, founder and outgoing CEO, will remain as the company’s Chairman of the Board while stepping away from day-to-day managerial responsibilities. “When we became an ESOP (Employee Stock Ownership Plan) it was always my dream to give this company over to the employees who helped build it,” says Prosser. “Knowing the next era of the company will be led by Greg and Shawn gives me the greatest satisfaction of my career. We have built something special here, and I know that we will continues to fulfill our intent of fostering healthy and thriving ecosystems.” The transition will allow Prosser to focus on developing strategies for professional and personal projects. “Tom is a visionary like no other in the industry,” says Krogstad, “He started a company that impacts millions of plants and, in turn, impacts millions of people’s lives for the better. We are honored to be the owners and stewards of this vision into the future.”
ABOUT RAINBOW COMPANIES
Rainbow Companies was founded in 1976 by Tom Prosser to protect American elm trees from Dutch elm disease. Since then, the company has grown to encompass Rainbow Treecare (residential and commercial arborist services), Rainbow Lawncare (turf management services), Rainbow Pest Experts (residential and commercial pest control), Growth Solutions (utility vegetation management application services), and Rainbow Ecoscience (research and product development). Rainbow became an employee-owned company in 2009, transitioning to 100% employee ownership in 2020. Rainbow Companies is dedicated to restoring ecosystems and creating environments where life is thriving.
CONTACT
Deb Buen-Peterson, Director of Culture, Rainbow Companies
952-252-0544 | [email protected]
