NW Natural Holdings and NW Natural CEO David H. Anderson Announces Retirement

Source: www.gulfoilandgas.com 5/23/2024, Location: North America

NW Natural Holding Company (NYSE: NWN) (NW Natural Holdings) and NW Natural Gas Company (NW Natural) chief executive officer (CEO) David H. Anderson announced today his intent to retire on April 1, 2025. The Board of Directors designated Justin B. Palfreyman, president of NW Natural Holdings and NW Natural, as the successor to Anderson.

"David’s been an exemplary leader for 20 years at the NW Natural companies,” Malia H. Wasson, chair of NW Natural Holdings’ Board, said. “As CEO, David set a vision for the gas utility to decarbonize while continuing healthy growth, built a water and wastewater utility platform, and started a renewables business. David’s commitment to the company’s long-held core values, especially our safety and service ethic, has never wavered. David has assembled and led an exceptional management team, one that the Board is confident will continue to thrive as they navigate new opportunities.”

Wasson continued, "Our selection of Justin as the next CEO is a reflection of his strong performance as president of NW Natural Water, leading our company’s strategic efforts and business development. Over the past year, his responsibilities have expanded as president of NW Natural Holdings and NW Natural. Justin has proven he has the vital skills and experience that make him the right choice to lead the company into the future. For decades, our board has prioritized succession planning. We are very pleased and excited to name Justin as David’s successor.”

Anderson became NW Natural Holdings’ CEO in August of 2016 after serving as president and chief operating officer (COO). He came to the company in 2004, and his tenure has included service as executive vice president and senior vice president and chief financial officer.

"It has been an enormous privilege to lead NW Natural Holdings and the talented and deeply committed people who work here," Anderson said. "This 165-year-old company is in good hands. It has the leadership and talent to continue to grow across three strong businesses and continue its legacy of providing essential and exceptional services to its customers and communities."

Anderson continued, "Justin brings to the CEO position strong industry experience, a strategic mindset, and excellent leadership skills. Over the years, he has played a key role in ensuring NW Natural Holdings has a strong, diversified portfolio of growing businesses and been instrumental in helping the company continue its outstanding customer service and safety achievements. It is a dynamic time for our industry, and Justin is ready to meet the challenges and capture the opportunities."

"It will be an honor to be the next CEO of a company with such a long and rich history," Palfreyman said. "David has been an impactful leader across our industry and will be leaving NW Natural Holdings in a strong financial position, well poised for continued growth. He has also led a corporate culture that is focused on exceptional customer service and safety. NW Natural Holdings’ employees are extraordinary, and I look forward to working with them to achieve even greater success in the years ahead."

Palfreyman joined the company in 2016 and since then has served in various executive roles over business development, strategy, and president of NW Natural Water. In May 2023, he was promoted to NW Natural Holdings’ and NW Natural’s president. Prior to joining the company, Palfreyman served in various roles in investment banking covering the power, energy and infrastructure sector. He graduated from Pacific Lutheran University with a Bachelor of Business Administration, holds a Master of Business Administration (MBA) from The University of Chicago Booth School of Business, and holds a Master of Public Policy (MPP) from The University of Chicago Irving B. Harris School of Public Policy.

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