Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 December 18, 2015 - 2:06 PM EST
Print Email Article Font Down Font Up Charts

NW Natural Announces CEO Succession Plan

PORTLAND, OR--(Marketwired - Dec 18, 2015) - The Board of Directors of Northwest Natural Gas Company (NYSE: NWN), dba NW Natural, today announced that Gregg S. Kantor, chief executive officer (CEO), will retire at the end of 2016. David H. Anderson, president and chief operating officer, will succeed Kantor as CEO, effective Aug. 1. Kantor will continue in an advisory role to the Board of Directors through Dec. 31, 2016.

"Gregg has been a strong leader for NW Natural. He has built an exceptional management team, one that has made the company an industry leader in service and safety, while also positioning it for continued growth," Tod Hamachek, Chairman of NW Natural's Board, said. "David's selection as the next CEO, as well as his previous service as the company's chief financial officer, executive vice president and president and chief operating officer (COO), is a reflection both of his talents and the company's commitment to disciplined succession planning."

Kantor became NW Natural's CEO in January of 2009 after serving as president and COO. He came to the company in 1996, and his tenure has included service as executive vice president and senior vice president of public and regulatory affairs.

"It has been an enormous privilege to lead NW Natural and the talented and deeply committed men and women who work here," Kantor said. "This 156-year old company is in good hands. It has the leadership and talent to continue to grow and provide great service to its customers and communities."

Kantor said, "David brings to the CEO position strong financial, operational and leadership skills. Over the years, he has both helped ensure NW Natural's financial strength and been instrumental in many of the company's operational and service achievements."

"It will be an honor to be the next CEO of a company with such a long and rich history," Anderson said. "Gregg, along with past CEOs, will be leaving the company financially strong and well positioned to continue providing exceptional customer service. NW Natural employees are the best in the world, and I look forward to working with them to achieve even greater success."

Anderson joined NW Natural in 2004 as senior vice president and chief financial officer. In 2013, Anderson was elected executive vice president and chief financial officer. In 2014, he was promoted to president. Prior to joining NW Natural, Anderson served in various executive positions at TXU Corporation (formally Texas Utilities) including chief accounting officer of the parent company and chief financial officer of TXU Gas. Anderson is a graduate of Texas Tech University and is a Certified Public Accountant (ret) and Certified Management Accountant in Texas and Oregon. He and his wife Susan live in the Portland area and have two children.

About NW Natural
NW Natural (NYSE: NWN) is headquartered in Portland, Ore., and provides natural gas service to about 707,000 residential, commercial, and industrial customers through 14,000 miles of mains and service lines in western Oregon and southwestern Washington. It is the largest independent natural gas utility in the Pacific Northwest with $3.0 billion in total assets. NW Natural and its subsidiaries currently own and operate underground gas storage facilities with designed storage capacity of approximately 31 Bcf in Oregon and California. Additional information is available at www.nwnatural.com.

Investor Contact:
Nikki Sparley
Phone: 503-721-2530
Email: n1s@nwnatural.com

Media Contact:
Melissa Moore
Phone: 503-220-2436
Email: msm@nwnatural.com


Source: Marketwired (December 18, 2015 - 2:06 PM EST)

News by QuoteMedia
www.quotemedia.com