The Metropolitan Economic Development Association announced Thursday that it has selected Alfredo Martel as the organization's next president and CEO.
Martel will officially assume the position on Monday. Prior to joining MEDA, he held several high-level executive positions at companies like Caribou Coffee, KFC and Yum! Brands, Inc. Most recently, Martel worked as chief of marketing and strategic communication at Walker Art Center in Minneapolis. At Walker, he also led the museum's Diversity, Equity and Inclusion task force.
Martel is also the former chairman of the board for The Brand Lab, a nonprofit focusing on diversity in marketing.
"We are thrilled to have Alfredo Martel join MEDA as our next CEO," MEDA Board Chairperson Barbara Butts Williams said in a release. "His vision, passion and commitment to developing and supporting successful minority enterprises – combined with his keen business experience, legacy of innovation, highly engaging and purpose-centric approach – will drive continued growth and economic vitality for our clients and their communities."
Martel's predecessor, Gary Cunningham, stepped down in May after leading the organization for roughly five years. Cunningham joined Washington, D.C.-based Prosperity Now, which creates solutions to ensure that all can establish financial security. Williams served as interim leader of MEDA prior to Martel's arrival.
For nearly a half-century, MEDA has helped minority entrepreneurs succeed through business development services, access to capital, and corporate and governmental market support for minority entrepreneurs.
Over the years, MEDA has helped launch more than 500 minority-owned businesses and assisted over 20,000 Minnesota entrepreneurs. Today, MEDA clients employ 6,000 Minnesotans and have a combined annual revenue of $1 billion.
"As the son of Cuban entrepreneurs, I am honored to build on the proud legacy of this important institution," Martel said in a statement. "MEDA has a remarkable history of fostering economic empowerment and advancing the success of minority entrepreneurs, and we are solidly poised for purposeful innovations in serving our clients."
