Posted 17 August, 2023

MDU RESOURCES GROUP INC appointed Nicole A. Kivisto as new CEO

NYSE:MDU appointed new Chief Executive Officer Nicole A. Kivisto in a 8-K filed on 17 August, 2023.

  On August 17, 2023, the Board appointed Nicole A. Kivisto to succeed Mr. Goodin as President and Chief Executive Officer, effective as of January 6, 2024.  

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Real Estate/Construction • Construction
MDU Resources Group, Inc. engages in the provision of natural resource products and related services to energy and transportation infrastructure. It operates through the following business segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, Construction Services, and Other. The Electric segment generates, transmits and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. The Natural Gas Distribution segment distributes natural gas in Montana, North Dakota, South Dakota, Wyoming, Idaho, Minnesota, Oregon, and Washington. The Pipeline and Midstream segment offers natural gas transportation, underground storage, processing and gathering services, as well as oil gathering, through regulated and non-regulated pipeline systems and processing facilities. The Construction Materials and Contracting segment mines aggregates and markets crushed stone, sand, gravel and related construction materials, including ready-mixed concrete, cement, asphalt, liquid asphalt and other value-added products. The Construction Services segment refers to the inside and outside specialty contracting services. The company was founded by C. C. Yawkey, R.M. Heskett and Walter Alexander on March 14, 1924, and is headquartered in Bismarck, ND.
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Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Retirement of David L. Goodin

On August 17, 2023, David L. Goodin, President and Chief Executive Officer of MDU Resources Group, Inc. (the "Company"), informed the Board of Directors (the "Board") of the Company of his intention to retire as President and Chief Executive Officer effective as of end of day January 5, 2024. Mr. Goodin began his career in 1983 as an electrical engineer with subsidiary Montana-Dakota Utilities Co. He served in various positions of increasing responsibility, becoming MDU Resources' President and Chief Executive Officer in 2013. 

Promotion of Nicole A. Kivisto to President and Chief Executive Officer

On August 17, 2023, the Board appointed Nicole A. Kivisto to succeed Mr. Goodin as President and Chief Executive Officer, effective as of January 6, 2024. Ms. Kivisto was also appointed to the Board, effective January 6, 2024, to serve until the 2024 Annual Meeting of Stockholders. 

Ms. Kivisto began her career with the Company in 1995 and has held a number of positions of increasing responsibility, including previous roles as MDU Resources' Controller and Chief Accounting Officer. She was named President and Chief Executive Officer of Cascade Natural Gas Corporation, Intermountain Gas Company, and Montana-Dakota Utilities Co. in 2015. Compensation for Ms. Kivisto in connection with her promotion will be determined by the Board and the Compensation Committee of the Board prior to her succession.

There is no family relationship between Ms. Kivisto and any other person that would require disclosure under Item 401(d) of Regulation S-K. There are no understandings or arrangements with any person pursuant to which Ms. Kivisto was selected as a director, and Ms. Kivisto is not party to any related party transaction required to be reported pursuant to Item 404(a) of Regulation S-K.

The Board has determined that Ms. Kivisto will not serve on any committees of the Board. In addition, Ms. Kivisto will not receive any additional compensation for her service on the Board.