Tom Holloran grew up in Minneapolis and attended its public schools. He graduated from the University of Minnesota with a B.S. and with a J.D. While in Law School he was Recent Case Editor of the Minnesota Law Review and president of his class.

The Korean War interrupted his law school education for two years for service as an officer on a Navy destroyer. Upon his return, and during his final law school year, he clerked for Justice Thomas Gallagher, Minnesota Supreme Court.

Upon graduation, Mr. Holloran practiced law for 12 years with the firm of Fredrikson and Byron in Minneapolis where he was elected a senior partner. His practice was in the general areas of business and securities law. In 1957, he incorporated Medtronic, Inc., when it was a partnership of two, with two employees, operating in a garage in Northeast Minneapolis. He joined the company’s Board of Directors in 1960 and served on it for 40 years. The company is now the world’s leading manufacturer of medical devices.

He left the law firm in 1967 and joined Medtronic as an employee. Over the next eight years he served as General counsel, Executive Vice President and finally President. For the following ten years he was Chairman and CEO of Dain-Rauscher (an investment banker and broker-dealer).

In 1985, he was appointed a Professor of Management at the University of St. Thomas and continued in that role until he elected to move to Emeritus status in 2002. He has taught classes to M.B.A. students in management and finance and was director of the management concentration. He also taught in China, Russia and Europe. He is an Honorary Professor at Xi Be University in Xian, China.

In addition to the Board of Directors of Medtronic and Dain Raushcer, he has served on numerous Boards of companies which include: ADC Telecommunications, Center for Diagnostic Imaging, Flexsteel Industries, Malt-O-Meal Company, MTS Systems, Polaris Industries, and National City Bank.

He has long been involved in education as a member of the Boards of the University of St. Thomas and the College of St. Scholastica. He is a past president of the Alumni Association of the University of Minnesota.

Mr. Holloran has held public office as the Mayor of Shorewood, Chair of the Metropolitan Airports Commission and as a Municipal Judge for the South Minnetonka communities. He serves or has served on numerous not-for-profit boards including the Archdiocese of St. Paul and Minneapolis, Chair of the Bush Foundation, Center for Ethical Corporate Cultures, Minneapolis Art Institute and the Walker Art Center. Frequently he lectures and consults in the area of corporate governance.

He has been involved with the School of Law since its inception, served on its initial hiring committee, and is a member of its Board of Advisors.