Leadership and Board of Directors

Born 1963

Michael S. Dunlap is Nelnet's Chairman and Chief Executive Officer, as well as one of the founders of the company. In this capacity, Dunlap is involved in helping establish and implement the strategic direction of the company.

Dunlap focuses his time on Nelnet's key strategies of diversifying the company's revenue stream, achieving superior economies of scale through successful operations of all business units, and attaining high quality earnings. He is driven to help develop leadership across the breadth of Nelnet management. He is driven by the Nelnet vision that the customer is number one. "I believe the strength of a corporate leader lies in leadership by example," says Dunlap.

Dunlap is currently a member of the Board of Directors for Union Bank and Trust Company and also serves as a Director and Co-President of Farmers & Merchants Investment Inc., the parent of Union Bank and Trust Company. In addition, he is a member of the President's Community Council for Union College, the Board of Directors for the University of Nebraska Foundation, the Board of Capital Casualty Company, and the Board of BankFirst of Norfolk.

Dunlap serves on the Lincoln 2015 Vision Group, which is involved in promoting the development of Nelnet's hometown. He also actively participates in the Young Presidents' Organization.

Dunlap is a member of the Nebraska State Bar Association. He received a B.S. degree in finance and accounting in 1986 and a J.D. degree from the University of Nebraska in 1988. He lives in Lincoln, Nebraska, with his family.

Born 1966

Jeffrey R. Noordhoek is Nelnet's President. In this role, Noordhoek has broad oversight responsibilities of Nelnet, Inc. and focuses on strategic planning and growth initiatives with Chief Executive Officer Mike Dunlap. In addition, he oversees Nelnet's Mergers and Acquisitions, Capital Markets, Investor Relations, Government and Industry Relations, and Corporate Communications.

Noordhoek has been described by colleagues as intelligent and outspoken. His belief in the long-term growth and longevity of the company is the basis for his careful decision-making process.

"Nelnet is a recipe for success: a proven long-term focus with competitive, sustainable market advantages. We accomplish this through a diversified integrated business platform with a focus on the education marketplace, strong capitalization, a collection of the best and most dedicated associates in the industry, and a mission for helping our customers' educational dreams become a reality."

Noordhoek most recently served as Nelnet's Chief Capital Markets Officer with responsibility for the company's securitization and capital markets funding initiatives, including warehouse lines of credit, long-term securitizations, and private debt arrangements. He has been an integral member of Nelnet's capital markets group since 1996.

Previously, Noordhoek served as Senior Vice President of National Education Loan Network Inc., a subsidiary of Nelnet, until October 2002. Prior to that, he served as a Vice President of Nelnet's predecessor Union Financial Services, Inc.

Before joining Nelnet, Noordhoek served seven years in various capacities for State Street Capital Corporation where he assisted in the establishment of commercial paper conduit financing vehicles. While at State Street, Noordhoek worked at its offices in Luxembourg, Toronto, and Boston and successfully executed securitizations in numerous asset classes.

Mr. Noordhoek earned a B.S. degree in business administration from the University of Nebraska in 1988 and an M.B.A. from Boston University in 1996. He's an active member of the Young Presidents' Organization and lives in Lincoln, Nebraska, with his family.

Born 1969

Todd M. Eicher currently oversees the company's Enrollment Solutions division (NES). This division concentrates on matching qualified students with institutions of higher learning and providing strategic resources to colleges and universities as they expand modalities of instruction and programs of study.

Eicher oversaw Nelnet's merger and acquisition activities in his former role as Chief Merger and Acquisition Officer. He previously served as Nelnet's Executive Director of Loan Generation, directing School Product Support, Business Integration, and all aspects of Nelnet's Loan Origination operations. Prior to his directing Loan Generation, Eicher was the Loan Servicing Vice President for Nelnet's Jacksonville, Florida, and St. Paul, Minnesota, offices. In August 1995, Eicher began his career as an attorney with UNIPAC, a student loan servicing business acquired by Nelnet in 2000. Prior to beginning his career with UNIPAC, he worked for Union Bank and Trust for seven years while attending the University of Nebraska-Lincoln.

Eicher received his J.D. degree from the University of Nebraska College of Law in 1995 and his B.S. in Business Administration/Finance from the University of Nebraska-Lincoln in 1992.

Eicher is a member of the American Bar Association and the Nebraska State Bar Association. He has a home in Lincoln, Nebraska, where he lives with his family.

Born 1964

Terry J. Heimes has served as our Chief Financial Officer since March 2001 and as Executive Director in charge of Corporate Finance and Legal Services. Also active in Nelnet's strategic planning and direction, Heimes oversees the preparation and issuance of financial statements, corporate accounting and tax matters, as well as our asset-backed securitization and warehousing activities.

Heimes is a strong advocate of Nelnet's conservative, transparent accounting practices. He approaches his job diligently and yet Heimes incorporates his personable and good-humored nature frequently. His razor-sharp financial intelligence combined with his unyielding business ethics make him critical to Nelnet's success to date.

"A focus on long-term diversified sustainable growth is at the core of our strategy and core to our historical growth and success to date," says Heimes.

Heimes served as a Director for Nelnet from March 2001 until August 2003. In October 1998, in connection with the conversion and acquisition of NEBHELP, Heimes became the Vice President of finance of National Education Loan Network, Inc., a subsidiary of Nelnet. Prior to joining NEBHELP, Heimes worked for the public accounting firm of KPMG LLP in Lincoln, Nebraska, as a Manager in the audit department. Also, he currently serves as a member of the board of directors for the Lincoln Chamber of Commerce.

Heimes graduated magna cum laude from the University of Nebraska-Kearney with a B.S. degree in business administration with an emphasis in accounting in 1986. He makes his home in Lincoln, Nebraska, with his family.

Born 1968

William J. Munn is the company's General Counsel and Chief Legal Officer. In October 1998, Munn joined UNIPAC Service Corporation, a student loan servicing business acquired by Nelnet in 2000.

Munn is continually broadening his extensive knowledge of Nelnet's business, which he leverages in connection with his analysis of legal issues facing the business. His pursuit of understanding his customers' needs and priorities enables him to align his own team's talents and energies with those of the customer.

Prior to his appointment as General Counsel, Munn served the company's legal needs as Legal Counsel, Senior Counsel and Deputy General Counsel. In his tenure at Nelnet he has been heavily engaged in a variety of corporate initiatives including privacy matters, vendor management and developing and enhancing the company's securities trading policies and procedures following its 2003 initial public offering. He works closely with the Board of Directors and its committees, and also oversees the company's records management initiatives.

Before joining Nelnet, Munn was in a private law practice in Denver and Lincoln for four years, representing individuals and small to medium-sized companies in both transactional and litigation matters.

Munn currently serves on the Board of Directors of Junior Achievement Rocky Mountain, Inc. and actively promotes and supports JA's volunteer efforts in Denver area schools. He previously served as Chair of the Colorado Bar Association Young Lawyers' Division and was a member of its Board of Directors for six years.

Munn received his undergraduate degree in Broadcast Journalism in 1990, and his law degree in 1994, both from the University of Nebraska. He lives with his wife and daughters in Denver.

Born 1959

Timothy A. Tewes serves as Chief Executive Officer of Nelnet Business Solutions and President of NBS K-12 division. Tewes joined FACTS Management in 2000 and served as Executive Vice President responsible for the company's revenue generation, product and marketing efforts. With the acquisition of FACTS by Nelnet in 2005, Tewes assumed the role of President for the company's K-12 division. In 2007 Tewes assumed additional responsibility as CEO for NBS. In his role as President of the K-12 division, Tewes leads the company's efforts to support private and faith based schools with tuition management, financial needs assessment, enrollment management and donor management, all with a goal to make education more affordable for the tuition paying elementary and secondary school family. As CEO of NBS, Tewes also has responsibility for the company's higher education division. This division serves institutions of higher education with a broad set of campus commerce related products including e-billing, e-payments, refunds management, credit card merchant processing and tuition payment plan administration.

Prior to joining FACTS Management Company Tewes served 16 years with Wells Fargo Bank, Nebraska. Tewes was President of the Wells Fargo's Lincoln, Nebraska, banks and served as Regional President responsible for all of Wells Fargo's greater Nebraska banks, immediately prior to joining FACTS.

Tewes earned a Master of Business Administration as well as a Bachelor of Science in Agriculture Business from the University of Nebraska Lincoln. Tewes has been active in the Lincoln community since 1991, serving in many capacities for the United Way of Lincoln and Lancaster County. Tewes makes his home in Lincoln, Nebraska.

Born 1963

Michael S. Dunlap is Nelnet's Chairman and Chief Executive Officer, as well as one of the founders of the company. In this capacity, Dunlap is involved in helping establish and implement the strategic direction of the company.

Dunlap focuses his time on Nelnet's key strategies of diversifying the company's revenue stream, achieving superior economies of scale through successful operations of all business units, and attaining high quality earnings. He is driven to help develop leadership across the breadth of Nelnet management. He is driven by the Nelnet vision that the customer is number one. "I believe the strength of a corporate leader lies in leadership by example," says Dunlap.

Dunlap is currently a member of the Board of Directors for Union Bank and Trust Company and also serves as a Director and Co-President of Farmers & Merchants Investment Inc., the parent of Union Bank and Trust Company. In addition, he is a member of the President's Community Council for Union College, the Board of Directors for the University of Nebraska Foundation, the Board of Capital Casualty Company, and the Board of BankFirst of Norfolk.

Dunlap serves on the Lincoln 2015 Vision Group, which is involved in promoting the development of Nelnet's hometown. He also actively participates in the Young Presidents' Organization.

Dunlap is a member of the Nebraska State Bar Association. He received a B.S. degree in finance and accounting in 1986 and a J.D. degree from the University of Nebraska in 1988. He lives in Lincoln, Nebraska, with his family.

Chairman of the Executive Committee

Born 1952

Stephen F. Butterfield serves as our Vice Chairman. Previously, he served as the company's co-CEO and Vice Chairman. Butterfield also served as a Director for Nelnet's predecessor.

He and Dunlap founded Nelnet with the dream of making the company one of the finest in the education services and finance industry. Butterfield, known as "Butter" to his friends and colleagues, reflects on the significant accomplishments and the realization of their shared dream: " It is rewarding to stand back and see the strong company that Mike and I worked so hard to create and develop. We've seen it through the infancy stages to become the solid, growing company that it is today." He helped develop the philosophy that the leadership of the company works for the associates. This has grown from a way of illustrating his philosophy that Nelnet leadership supports and assists our hard working associates—one distinction that sets the company apart—to a daily mantra for the top officers of the company.

Butterfield's dynamic personality and compassionate leadership have endeared him to Nelnet associates across the nation. His business acumen and accessibility have created trusting and long-lasting relationships throughout the industry.

For nearly 20 years, Butterfield has been involved in the student loan industry. First, he served as President of a for-profit student loan secondary market facility located in Scottsdale, Arizona, and subsequently as President of the Student Loan Acquisition Authority of Arizona, a non-profit secondary market facility. Prior to his work in the student loan industry, Butterfield spent 15 years as an investment banker; he spent several years in investment banking with Boettcher and Company, specializing in municipal finance.

Butterfield received his B.S. degree in business administration from Arizona State University. He lives with his family in Scottsdale, Arizona.

Member of the Nominating and Corporate Governance Committee
Member of the Risk and Finance Committee

Born 1950

James P. Abel has been a member of Nelnet's Board of Directors since August 2003 and serves as Chair of the compensation committee. Mr. Abel had previously served as a Director of NHELP-I, Inc., a Nelnet subsidiary, for three years until August 2003.

Since 1983, Mr. Abel has served as President and Chief Executive Officer of NEBCO, Inc., a Lincoln, Nebraska, based company with interests in the manufacturing of building materials, construction, insurance, mining, railroading, farming, and real estate. 

Mr. Abel serves on the Boards of Directors of Ameritas Life Insurance Corp. and Linweld, Inc. and is an Advisory Board Member for the US Bank Lincoln. He is Chairman of the Nebraska Game & Parks Foundation and is on the Boards of the University of Nebraska Foundation and Nebraska Wesleyan University. Mr. Abel received a B.S. degree from Arizona State University in 1973.

Member of the Compensation Committee
Chairman of the Nominating and Corporate Governance Committee

Born 1964

Kathleen A. Farrell is an Associate Professor of Finance at the University of Nebraska-Lincoln. Dr. Farrell joined the finance faculty at the University of Nebraska-Lincoln in the fall of 1993. Her primary research interests are in executive compensation, executive turnover and other corporate governance issues. Dr. Farrell's publications have appeared in such journals as the Journal of Business, Journal of Accounting and Economics, Journal of Corporate Finance, Journal of Banking and Finance, Journal of Financial Research, and Advances in Financial Economics. Dr. Farrell teaches courses in corporate finance, managerial finance, and bank management. In 1996 she received the Distinguished Teaching Award and 2004 she received the University Distinguished Teaching Award from the College of Business Administration. Dr. Farrell draws on her experience from KPMG Peat Marwick as a supervising senior where she was involved with audit engagements for banks/savings and loans, manufacturers and college and universities. Dr. Farrell received her PhD in finance from the University of Georgia, and a BBA in finance and accounting from Kent State University. Dr. Farrell is married to Sam Allgood, an associate professor of economics at UNL. They have three children, Eastin, Hannah and Spencer Allgood.

Member of the Audit Committee
Member of the Executive Committee
Chairman of the Risk and Finance Committee

Born 1953

Thomas E. Henning has served as a member of our Board of Directors since August 2003. He serves on the nominating and governance committees.

Mr. Henning serves as President and Chief Executive Officer of Assurity Security Group Inc. and its wholly owned subsidiaries, Security Financial Life Insurance Co. and Assurity Life Insurance Company. Previously, Mr. Henning served concurrently as President and Chief Operating Officer of National Bank of Commerce of Lincoln, Nebraska, and Executive Vice President of First Commerce Bancshares between 1985 and 1990.

Mr. Henning is a member of the Investment Committee for the Lincoln Community Foundation, Chairman of the University of Nebraska Foundation Board of Directors, member of Lincoln Plating Company's Advisory Board and on the board of Stockmens Financial. He is a 1975 graduate of the University of Nebraska, as well as Stonier Graduate School of Banking at Rutgers University. He also has completed the Wharton School's Effective Management Program. Mr. Henning holds the CLU and CFA designations.

"It's a pleasure to serve on the board of a company like Nelnet which provides such a societal good by helping individuals achieve their educational dreams."

Chairman of the Audit Committee
Member of the Executive Committee
Member of the Risk and Finance Committee

William R. Cintani has been a member of Nelnet's Board of Directors since May 2012, and is a member of the audit and risk and finance committees. Mr. Cintani is Chairman and Chief Executive Officer of Mapes Industries, a diversified manufacturer of specialty architectural products with distribution across the Unites States and Canada. Mr. Cintani's service on numerous civic, philanthropic, and service boards have provided him with a wide array of experience in both corporate governance and operations. His practical knowledge and board experience provides the Company with a resource for all aspects of finance, operations, IT, and strategic planning. In addition, Mr. Cintani has served 10 years as a member of the board of directors for certain of the Company's asset-backed securities special purpose corporations.

Member of the Audit Committee
Member of the Risk and Finance Committee

Kimberly Rath is a native of Nebraska and has nearly 25 years of experience in the human resources field. She is a graduate of the University of Nebraska - Lincoln and a recognized leader in the field of executive development and human resources. Demonstrating a strong commitment to others, Rath uses her skills as a leadership management consultant to help clients reach their highest growth potential. Through her initiatives at Talent Plus as managing director and president, she has driven the company's growth at a rate not lower than 20 percent per year. Rath's achievements include:

• The strategic development of the Quality Selection Process® (QSP®), with over 50 validated selection interviews in 20 languages. 
• The creation of Collaborative Coaching® for the development and career planning of executives. 
• The actualization of TalentBank®, the online human capital management system built on the talents and measurable performance of an organization's associates.

Rath provides executive management consulting and training to organizations worldwide, including The Ritz-Carlton Hotel Company (the only hospitality company to have twice won the U.S. Department of Commerce Malcolm Baldrige National Quality Award), The Estee Lauder Companies, Mercedes-Benz USA, The Cheesecake Factory, Duty Free Shops and Cadbury Schweppes.

Rath is a member of the Young Presidents' Organization (YPO) as well as Cather Circle, Nebraska Alumni Association's mentoring and networking program for women. She previously served as a member of the Lincoln City/County Child Care Advisory Board. She also had a leadership role on the Executive Advisory Board for the Nebraska Center for Entrepreneurship and helped the Center gain recognition as the No. 1 Undergraduate Entrepreneurship Education Program in the country by the United States Association of Small Business and Entrepreneurship. Rath was a 1998 and 2005 nominee for the Lincoln YWCA Tribute to Women Award.

Prior to founding Talent Plus, Rath worked with The Gallup Organization for seven years, developing relationships with clients through training and development programs.

She is married to Doug Rath, chairman of Talent Plus. They have four children.

Chairman of the Compensation Committee
Member of the Nominating and Corporate Governance Committee

Born 1953

Michael Reardon has served as a member of our Board of Directors since December 2003 and serves on the compensation, nominating and governance committees. He had previously served since 2001 as an Independent Director for MELMAC, LLC, a Nelnet subsidiary.

Mr. Reardon is the President of ProVision Communications, a telecommunications consulting firm established in 2000. He has also served as the Chairman of HyperFlo, a manufacturer of precision cleaning equipment since 1997. Prior to 1977, Mr. Reardon founded and operated a cellular telephone company.

A graduate of Arizona State University, Mr. Reardon holds a degree in economics.

Member of the Compensation Committee since 2003
Member of the Nominating and Corporate Governance Committee since 2003