22.05.2008 23:19:00
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NW Natural Elects New Board Chairman, Announces Succession Plan for Top Executive
The Board of Directors of Northwest Natural Gas Company (NYSE:NWN), dba
NW Natural, today announced the election of Russell F. Tromley as board
chairman, effective immediately. Tromley succeeds Richard G. Reiten, who
retired after serving two separate terms as board chairman, most
recently since 2006.
"Russ Tromley’s
leadership as a key member of the board for the past 14 years and the
business experience he brings from his own enterprises will serve the
company well,” said Reiten. Most recently,
Tromley chaired the board’s Organization and
Executive Compensation Committee.
"I appreciate the trust placed in me and I
look forward to serving as chair of this very talented and experienced
board,” Tromley said.
The board also announced that Mark S. Dodson, chief executive officer,
will retire at the end of 2008. Gregg S. Kantor, president and chief
operating officer, has been identified as his successor.
"Mark’s vision,
wisdom and leadership have delivered some of the most impressive
financial and strategic accomplishments in the company’s
history. He and his team have positioned NW Natural for great things,”
Reiten said.
Dodson became NW Natural’s CEO in January
2003 after serving as president and COO, as well as a previous term as
general counsel. He will continue to serve on the board after retiring
at the end of this year.
"It is a privilege to serve as CEO of a
company with a 149-year history of strong business and community
leadership,” Dodson said. "The
changes announced today reflect NW Natural’s
legacy of ensuring it has the talent and expertise to lead it
successfully into the future.”
Kantor was appointed president and COO in May 2007 after serving earlier
terms at NW Natural as executive vice president, senior vice president
and vice president.
Dodson said, "Gregg has shown employees,
officers and the board that he has the vision, operational understanding
and strength to lead NW Natural through the transitions we can expect in
the coming years. He will move into the role just in time to help the
company celebrate its 150th anniversary.” "I am honored to follow in the footsteps of
Mark Dodson, and the other exceptional leaders of NW Natural’s
past, whose contributions have strengthened the company and the
community,” Kantor said. "NW
Natural has tremendous opportunities ahead, and it has employees with
the skills and commitment to turn those opportunities into reality. It
is a great privilege to lead their efforts.”
Kantor has a master's degree from the University of Oregon in urban
planning and an undergraduate degree in environmental studies from the
University of California, Santa Barbara. He is married to Diane Kantor.
They reside in Portland and have two children.
About NW Natural
NW Natural (NYSE:NWN) is headquartered in Portland, Ore., and
serves about 655,000 residential and business customers in Oregon and
southwest Washington. It is the largest independent natural gas utility
in the Pacific Northwest and is one of the fastest-growing local
distribution companies in the nation. NW Natural has more than $2
billion in total assets, which includes more than 16 billion cubic feet
(Bcf) of underground gas storage capacity within its service territory
at Mist, Ore. For more information about NW Natural, please visit
nwnatural.com.
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