Kent Horsager, member and former chairman of the board of directors, said, "The Minneapolis Grain Exchange has benefited in so many ways from Mr. Lindau's leadership as president for the last 12 years. A great deal has been accomplished during his tenure at the Exchange including setting numerous trading volume records. He has offered his energy, his strategic thinking and most notably his personal integrity in all his dealings at the Exchange."
Lindau encouraged new markets at the Exchange as well, overseeing the introduction of several new contracts. These include white wheat, durum wheat, Twin Cities electricity and black and white tiger shrimp. The Exchange will introduce another new contract-cottonseed-in the near future.
In his twelve years at the Exchange, Lindau encouraged outreach efforts to farmers seeking protection from falling markets and foreign traders such as the Canadian Wheat Board (CWB) and the Australian Wheat Board (AWB). He said he is pleased that the CWB has moved from not trading at the MGE to being one of its largest customers.
"By using the price discovery tools provided by the Exchange, the CWB will increase its visible participation in world markets while providing risk management for the Canadian farmers it represents," Lindau said.
In addition, Lindau helped the Exchange embrace technology as it pursues various avenues for Internet trading.
Horsager said, "Jim has helped set the Exchange on a path of growth with a keen eye toward making decisions that will help ensure a bright future. We are grateful for his years of service at the Minneapolis Grain Exchange and wish Jim the best during his retirement."
Prior to his tenure at the Minneapolis Grain Exchange, Lindau served as mayor of Bloomington, Minn. for 11 years. He was the principal force behind the development of Bloomington's Mall of America. He was employed by The Pillsbury Company for 23 years, leaving his position as Vice President of Commodity Trading to pursue Minnesota politics.
