Christopher M. Niemczewski, Managing Principal M.B.A., Columbia University Graduate School of Business 1977 B.A., Swarthmore College 1974 Chris Niemczewski founded Marshfield in 1989. While at Columbia, he was exposed to the Graham and Dodd school of security analysis and investing, an approach that has influenced his thirty-six years in the investment field. In addition to formulating and guiding Marshfield’s core investment philosophy and discipline, he conducts research and focuses on long-term strategic firm planning. From 1981 to 1989 he was President of Justin Asset Management. Chris is a member of the Board of Managers of Swarthmore College where he serves as Chair of the Investment Committee.

Elise J. Hoffmann is a Principal of Marshfield Associates, Inc. and along with Mr. Niemczewski leads the Adviser’s research team. Ms. Hoffmann joined Marshfield Associates, Inc. in 1995 and became a Principal in 1997. Prior to joining Marshfield Associates, Inc., she worked for U.S. Congressman Ed Markey, serving seven years as Counsel to the U.S. House of Representatives’ Committee on Energy & Commerce, Subcommittee on Telecommunications and Finance, where she was responsible for developing securities legislation. Prior to that, she practiced law in the private sector at Steptoe & Johnson in Washington, D.C., where she was an associate attorney practicing corporate, securities, and tax law. Ms. Hoffmann graduated from Princeton University with an A.B. and earned a J.D. from Yale Law School.

Chad Goldberg, Principal B.A., Stanford University 2003 Chad Goldberg joined Marshfield in 2006 and became a principal in 2012. He works with the research team analyzing Marshfield’s current and potential future holdings. Prior to joining Marshfield, Chad worked as a research assistant for the National Security Division of the Congressional Budget Office in Washington, DC from 2003-2005. At CBO, he assisted with research on the long-term implications of Department of Defense budgets and private sector mandates. Chad volunteers as a tutor for Horton's Kids in Washington.