LEADERSHIP TEAM
CEO
Merritt Becker | President & CEO
Merritt brings considerable manufacturing and distribution experience to Innovance. This experience includes leadership of global organizations with EDS/HP, Navistar, Cummins, and NRE. Merritt joined Innovance in late 2023 specifically seeking an ESOP portfolio of manufacturing companies. He believes Innovance can realize its full potential by serving customers through the innovation and dedication of its employee-owners. This builds upon its foundation of quality and performance.
Merritt holds a bachelor’s degree from Indiana University and a Master of Business Administration degree from Northwestern’s Kellogg School of Management. He has served on many not-for-profit Boards and follows his passion for serving communities, education, and the environment.
“There is no doubt the strength of our products and services rests with the talented employee-owners of Innovance. This benefits our customers by creating value through innovation. We must earn our customer’s business every day. Innovation with performance is our mission.”
Steve Borgerding joined Innovance in December 2023, and assumed the Chief Financial Officer responsibilities upon the retirement of Steve Tufte on February 29, 2024.
Steve brings considerable knowledge and capabilities to Innovance from his 25+ years of experience working in a broad range of finance-related roles at Hormel Foods Corporation, Wenger Corporation, and Apogee Enterprises.
A graduate of Minnesota State University Mankato, Steve received his bachelor’s degree in finance followed by an MBA from the University of St. Thomas. He also served in the MN Army National Guard for over 12 years.
Steve serves in a number of volunteer positions and also enjoys spending time outdoors, hunting and fishing, and working on cars.
“I am excited to be part of the Innovance team of companies where employee-owners create a strong culture of product quality and innovation, and dedication and flexibility to meet the ever-changing needs of our customers.”
Cindy Callahan | Financial Controller
Cindy started working for Innovance in 2002 and her position with the company is Financial Controller. She graduated from Winona State University with a Bachelor of Science Degree in Accounting. Cindy says that working for an employee-owned company creates a unique and rewarding culture.
She enjoys the variety of daily challenges her role provides, in addition to being part of a team that promotes the company’s growth and vision for the future. Outside the office, Cindy loves spending time with her husband and their two sons. She also enjoys gardening, going to concerts, motorcycle rides, snowmobiling, and playing bass guitar in her church’s praise team.
“This environment promotes a higher level of accountability and strong sense of responsibility of work performed by every employee.”
Jim Kinkade | Human Resource Manager
Jim began his career with Innovance in 2020 as the Human Resources Manager. He has a BS degree from Minnesota State University, Mankato. He appreciates interacting with committed coworkers who are dedicated to the success of the organization and each other.
In his free time, Jim enjoys spending time with his family, music, and completing home improvement projects.
“The team is fantastic. Collectively it is the best group I have ever worked with.”
Manager
Ryan joined the Innovance team as the Information Technology Manager in Fall of 2022. He received his Associate of Arts degree from Riverland Community College and then his Bachelor of Science degree in Information Technology Management from University of Wisconsin-Stout in Menomonie, WI.
In his free time, he enjoys traveling and playing board games such as Ticket to Ride, Settlers of Catan, or Carcassonne with his wife. Ryan is a tech enthusiast and enjoys using and testing the newest gadgets.
“There is more ownership in what I do. I am directly benefiting from the fruits of my labor. There is an inherit ‘we’ instead of ‘me’ mentality to the task at hand.”
Ryan Martens | Safety & Environmental Manager
Ryan started with Lou-Rich in 1999 as a painter and went on to lead the department in 2009. After six years, he transitioned to the lead position in the assembly department. In July of 2021, he landed his current role as the Environmental Health and Safety Coordinator for Innovance. Ryan has a bachelor’s degree in Biblical Studies from York University in York, NE. He appreciates working with people and building working relationships with them.
When he’s not working, Ryan enjoys spending time with his family, volunteering at church, and traveling for fun. He is also an avid golfer and fly fisherman.
“I enjoy feeling like I am working for myself and my co-workers, not someone else. I believe it makes a big difference in how much we all care about the success of the company knowing we are fully vested in it.”
Lead
Josh Elwood | Marketing Lead
Josh is a data-driven marketer who feeds on enabling the health of the Innovance sales pipeline. He brings a suite of marketing experience to the company that promote the operational efficiencies of each operating company within the ESOP. Josh joined the Innovance team in late 2021 with the ambition to generate demand for our companies by leveraging high-analytical and feel-driven signals within the manufacturing industry.
Josh obtained a bachelor’s degree from the University of Minnesota. His hunt for knowledge is a never-ending pursuit, but when he’s not refining his marketing skills, he is engaged in assorted outdoor activity and soaking up the sun.
Lou-Rich
General Manager
ALMCO
Product Manager
Panels Plus
General Manager
MFI
General Manager
Jorgensen
BOARD OF DIRECTORS
Bill Lundberg | Chairman
Bill Lundberg brings over 40 years of leadership experience across industries such as manufacturing, construction, and software. As the founder of Lundberg Consulting LLC, he has spent the last decade coaching executives and mid-level leaders to achieve transformative growth. Bill’s career includes serving as President and COO at Cargill Inc., Roscoe Steel & Culvert, and City Carton Recycling, providing him with deep insights into business strategy and leadership.
Bill holds a B.S. in Business Administration from Bemidji State University and completed The Executive Program at the University of Michigan’s Ross School of Business. He also holds a Six Sigma Green Belt Certification. Beyond Innovance, Bill serves on multiple boards, helping organizations develop strong leadership and strategic vision.
Merritt Becker | President & CEO
Merritt brings considerable manufacturing and distribution experience to Innovance. This experience includes leadership of global organizations with EDS/HP, Navistar, Cummins, and NRE. Merritt joined Innovance in late 2023 specifically seeking an ESOP portfolio of manufacturing companies. He believes Innovance can realize its full potential by serving customers through the innovation and dedication of its employee-owners. This builds upon its foundation of quality and performance.
Merritt holds a bachelor’s degree from Indiana University and a Master of Business Administration degree from Northwestern’s Kellogg School of Management. He has served on many not-for-profit Boards and follows his passion for serving communities, education, and the environment.
“There is no doubt the strength of our products and services rests with the talented employee-owners of Innovance. This benefits our customers by creating value through innovation. We must earn our customer’s business every day. Innovation with performance is our mission.”
Larry Krynski | Director
Larry Krynski has been a member of the Innovance Board of Directors since 2015. With over 30 years of leadership experience, Larry has held roles such as Global Director of Engineering at Pentair, Hoffman and General Manager at Midland Tech. He currently operates his own consulting business, Krynski and Associates, where he helps organizations drive growth and innovation.
Larry earned a B.S. in Electrical Engineering from the University of North Dakota and completed a Mini MBA in Executive Leadership at the University of St. Thomas. He brings expertise in scaling businesses, strategic planning, and managing global teams across a variety of industries, including aerospace and semiconductor manufacturing.
Mike Larson | Director
Mike Larson joined Lou-Rich in 1992 as Engineering Manager, eventually leading the company as President and CEO of both Lou-Rich and Innovance. Over his decades of leadership, Mike helped grow the organization into a trusted manufacturing partner for top-tier customers. In 2024, Mike retired from his role as President and CEO and continues to contribute as a member of the Innovance Board of Directors.
Mike holds a Mechanical Engineering degree from the University of Minnesota and an MBA from the Carlson School of Management. Outside of work, Mike enjoys skiing, boating, and traveling with his wife, Vicki.
Steve Tufte | Director
Steve Tufte joined Innovance in 1993 and served as Chief Financial Officer for 30 years until his retirement in 2024. During his tenure, he played a pivotal role in the company’s financial growth, strategic planning, and employee-owned culture. Steve also served as General Manager of Lou-Rich from 2014 to 2018, contributing to the operational success of the organization.
Steve holds a B.A. in Accounting with a minor in Computer Science from Minnesota State University, Mankato, and certifications in CPIM, CISA, and CPA. He values the collaborative spirit of Innovance’s ESOP culture and the collective impact of employee-owners.
Steve enjoys gardening, fishing, and spending time with his four sons and two grandchildren.