At Minnesota State University, Mankato, the loss of Al Annexstad ’67, who died July 8 at the age of 82, brings to light the impact he had not only on his alma mater but on education around the country.
His was a rags-to-riches story in which his good fortune was shared through nearly 1,300 scholarships to students around the U.S.—including many at Minnesota State Mankato.
Annexstad will be remembered as a thoughtful businessman, a dedicated husband, father and friend, and a philanthropist whose generosity touched students who, like him, had to navigate difficult economic circumstances.
After earning degrees in business and social sciences in 1967, Annexstad took a sales job with Federated Insurance—a southern Minnesota firm founded in 1904. He worked his way up through the company and was named the CEO in 1999. A year after becoming CEO, Annexstad and his wife Cathy established the Annexstad Family Foundation to provide college scholarships to students who overcame challenging backgrounds.