MDU Resources names Brian Gray as Knife River CEO; retention deal for CSG head Thiede

MDU RESOURCES GROUP INC

David C. Barney to step down as CEO of Knife River effective March 1, 2023; Brian R. Gray succeeds him.
Barney will serve as non-executive senior advisor through his retirement on January 3, 2024.
Barney retains current base salary, 2023 target bonus, and receives 2023 annual equity award.
CSG President & CEO Jeffrey Thiede enters retention agreement tied to strategic review; $1.1M cash bonus upon closing of a transaction.
Thiede also gets prorated vesting of 2023 equity, prorated annual bonus, and full deferred comp vesting if transaction closes.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

David C. Barney

Chief Executive Officer of Knife River Corporation

MDU · MDU RESOURCES GROUP INC

Effective: 2023-03-01
Successor: Brian R. Gray
Filed: February 17, 2023, 6:59 PM ET

On February 16, 2023, MDU Resources Group, Inc. (the “Company”) announced that David C. Barney will cease serving in his position as Chief Executive Officer of Knife River Corporation (“Knife River”), the Company’s construction materials subsidiary, effective as of March 1, 2023.

Appointed

Brian R. Gray

Chief Executive Officer of Knife River Corporation

MDU · MDU RESOURCES GROUP INC

Effective: 2023-03-01
Filed: February 17, 2023, 6:59 PM ET

Brian R. Gray, currently President of Knife River, will assume the Chief Executive Officer role at Knife River.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David C. Barney resigned as Chief Executive Officer of Knife River Corporation at MDU RESOURCES GROUP INC.

Action: resigned
Role: Chief Executive Officer of Knife River Corporation

Exact text from the filing

On February 16, 2023, MDU Resources Group, Inc. (the “Company”) announced that David C. Barney will cease serving in his position as Chief Executive Officer of Knife River Corporation (“Knife River”), the Company’s construction materials subsidiary, effective as of March 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brian R. Gray was appointed as Chief Executive Officer of Knife River Corporation at MDU RESOURCES GROUP INC.

Action: appointed
Role: Chief Executive Officer of Knife River Corporation

Exact text from the filing

Brian R. Gray, currently President of Knife River, will assume the Chief Executive Officer role at Knife River.

View on SEC.gov

MDU RESOURCES GROUP INC filing history →

Source: SEC EDGAR

accession 0000067716-23-000013

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