MDU Resources Names Chief Financial Officer, Chief Accounting Officer, Treasurer
1/7/2010
Bismarck, ND
MDU Resources Group, Inc. (NYSE: MDU) today announced that Doran N. Schwartz has been named vice president and chief financial officer for the corporation, Nicole A. Kivisto has been named vice president, controller and chief accounting officer, and Douglass A. Mahowald has been named treasurer and assistant secretary. All positions are effective Feb. 17.
“We are pleased to have this experienced and talented team to help lead our corporation through continued growth,” said Terry D. Hildestad, MDU Resources president and chief executive officer. “They have demonstrated great leadership, and their business knowledge and expertise will be beneficial in leading the finance group as we continue to create value for our stakeholders.”
Schwartz previously was MDU Resources’ vice president and chief accounting officer. Prior to joining MDU Resources in 2005, he was a director in the finance area for American Express and was an audit manager for Deloitte & Touche. Schwartz is a native of Bismarck, N.D., and holds a bachelor’s degree in business administration from the University of Minnesota-Moorhead, a bachelor’s degree in accounting from the University of Northern Iowa and a master’s degree in business administration from the University of Wisconsin-Whitewater. He is a certified public accountant. Schwartz replaces retiring CFO Vernon A. Raile.
Kivisto has been MDU Resources’ controller since 2005. She joined the corporation in 1995 and has held a number of positions of increasing responsibility. Kivisto grew up in Beulah, N.D., has a bachelor’s degree in accounting from the University of Minnesota-Moorhead and is a graduate of the Carlson School of Management Minnesota Executive Program. She is a certified public accountant.
Mahowald joined MDU Resources in 1982, holding positions of increasing responsibility and becoming assistant treasurer and assistant secretary in 1992. Mahowald is a native of Garrison, N.D., and has a bachelor’s degree in finance from the University of St. Thomas in St. Paul, Minn.
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Doran Schwartz |
Nicole Kivisto |
Doug Mahowald |
MDU Resources Group, Inc., a Fortune 500 company and a member of the S&P MidCap 400 index, provides value-added natural resource products and related services that are essential to energy and transportation infrastructure, operating in three core lines of business: energy, utility resources and construction materials. MDU Resources includes natural gas and oil production, natural gas pipelines and energy services, electric and natural gas utilities, construction services, and construction materials and contracting. For more information about MDU Resources, see the company's Web site at www.mdu.com.
Contacts:
Financial:
Phyllis A. Rittenbach
Director - Investor Relations
(701) 530-1057
Media:
Rick Matteson
Director of Communications and Public Affairs
(701) 530-1700