MDU Resources Announces Board Leadership Transition with New Chair of the Board

MDU Resources Group (NYSE: MDU) has announced a significant board leadership transition, with Darrel T. Anderson being elected as the new independent chair of the board, replacing Dennis W. Johnson effective immediately.

Rhea-AI Summary

MDU Resources Group (NYSE: MDU) has announced a significant board leadership transition, with Darrel T. Anderson being elected as the new independent chair of the board, replacing Dennis W. Johnson effective immediately. Johnson will continue serving as a director and chair of the Nominating and Governance Committee. Anderson, who joined the board in 2023 and previously served as board vice chair, brings extensive industry experience from his tenure as president and CEO of IDACORP and Idaho Power Company.

The transition reflects MDU Resources' structured approach to board leadership succession and governance. The company, a member of the S&P SmallCap 600 index, operates as a pure-play regulated energy delivery business, serving over 1.2 million customers across the Pacific Northwest and Midwest with electric and natural gas distribution services, alongside a 3,800-mile natural gas pipeline network.

Positive

• Structured and planned leadership transition ensuring governance continuity
• New chair brings valuable industry experience from leadership roles at IDACORP and Idaho Power
• Demonstrates commitment to leadership development and succession planning

Negative

• None.

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BISMARCK, N.D., May 15, 2025 /PRNewswire/ -- MDU Resources Group, Inc. (NYSE: MDU) today announced that its board of directors has elected Darrel T. Anderson as its new independent chair of the board, succeeding Dennis W. Johnson, effective immediately. Johnson will remain on the board as a director and will continue to serve as chair of the Nominating and Governance Committee.

"This transition is a testament to our board's disciplined approach to board leadership succession. Darrel's election as chair follows a deliberate process that ensures continuity and strong governance. He is well prepared and very qualified to lead the board," said Johnson.

Nicole Kivisto, president and CEO of MDU Resources, added, "We are grateful for Dennis' leadership, particularly through the company's transformation to a pure-play regulated energy delivery business, and we deeply appreciate his continued service on the board. We congratulate Darrel and look forward to his leadership in this next chapter."

Leadership refreshment and succession planning are key focuses for the board. Anderson's election to board chair reflects a structured governance approach that emphasizes continuity and leadership development. Anderson joined the board in 2023, and previously served as board vice chair and chair of the Compensation and Human Capital Committee. His steady progression within the board demonstrates MDU Resources' commitment to thoughtful succession planning and best-in-class governance.

Anderson brings decades of industry experience, including his tenure as president and CEO of IDACORP, Inc. and Idaho Power Company. His deep understanding of regulated energy businesses and corporate governance will be valuable to the board as MDU Resources continues executing its strategic priorities.

About MDU Resources Group, Inc.

MDU Resources Group Inc., a member of the S&P SmallCap 600 index, delivers safe, reliable, affordable and environmentally responsible electric and natural gas distribution services to more than 1.2 million customers across the Pacific Northwest and Midwest. In addition to its utility operations, the company's pipeline business operates a more than 3,800-mile natural gas pipeline network and storage system, ensuring reliable energy delivery across the Northern Plains. With a legacy spanning over a century, MDU Resources remains focused on energizing lives for a better tomorrow. For more information about MDU Resources, visit www.mdu.com or contact the investor relations department at investor@mduresources.com.

Investor Contact: Brent Miller, treasurer, 701-530-1730
Media Contact: Byron Pfordte, director of integrated communications, 208-377-6050

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SOURCE MDU Resources Group, Inc.

FAQ

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Who is the new board chair of MDU Resources (NYSE: MDU)?

Darrel T. Anderson has been elected as the new independent chair of MDU Resources' board, effective May 15, 2025.

What is Dennis Johnson's new role at MDU Resources?

Dennis Johnson will remain on the board as a director and continue serving as chair of the Nominating and Governance Committee.

What is Darrel Anderson's background before becoming MDU Resources' board chair?

Anderson previously served as president and CEO of IDACORP, Inc. and Idaho Power Company, and joined MDU's board in 2023, where he served as board vice chair and chair of the Compensation and Human Capital Committee.

How many customers does MDU Resources serve?

MDU Resources serves more than 1.2 million customers across the Pacific Northwest and Midwest with electric and natural gas distribution services.