VAA to Appoint Brian Utoft as CEO on January 1
The Minneapolis firm concludes a three-year succession process as outgoing CEO Jeff Schrock shifts focus to client development.
Updated on Oct. 29, 2026 in People
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Minneapolis-based VAA will transition Brian Utoft into the role of chief executive officer effective January 1, 2027. This move concludes a three-year succession process as outgoing CEO Jeff Schrock shifts his focus to client development.
Why it matters
Succession transitions at professional services firms often signal a strategic pivot in operational focus or business development priorities. After a 13-year leadership tenure, the firm is balancing continuity with a shift in the outgoing executive's mandate toward client-facing growth initiatives.
The transition ends Jeff Schrock's 13-year tenure as CEO following his 20-year career at the firm, a term that included the opening of new offices in Sioux Falls and New Orleans. Whether this structural change alters the firm's geographic expansion pace remains unknown.
The players
Brian Utoft
The incoming chief executive officer of VAA who has served at the firm since 2010 and leads the General Arrangement department.
Jeff Schrock
The outgoing chief executive officer of VAA who served in the role for 13 years and will now focus on client work and strategic growth.
VAA
A Minneapolis-headquartered firm that manages multi-office operations and has undergone a three-year leadership succession.
The details
The appointment of Brian Utoft concludes a three-year formal succession process initiated by the firm. Utoft, who joined the firm in 2010 and currently leads the General Arrangement department, recently completed an executive MBA from Iowa State University in 2025 to prepare for the role. Outgoing CEO Jeff Schrock will remain active in the firm, shifting his responsibilities toward direct client work and business development strategies.
Timeline
2010: Brian Utoft joined VAA.
2025: Brian Utoft completed his executive MBA at Iowa State University.
January 1, 2027: Brian Utoft assumes the role of CEO.
Market Landscape
This transition follows the structural precedent set by the firm's three-year succession process. It mirrors a common industry trend where firms pivot established leaders into business development roles to protect client relationships during executive shifts.
Operators planning their own succession should note the use of a three-year transition window to prepare internal candidates for executive duties. Firms looking for growth signals should monitor the departing CEO's upcoming focus on business development to gauge the company's future competitive strategy.
The takeaway
Leadership succession requires significant advance planning, as demonstrated by the multi-year preparation path taken by this firm. Owners should assess whether their current bench strength can support a similar transition by tracking the time required for internal candidates to complete advanced training.
Further reading
For more on local leadership changes, visit People.
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