Source: MDU Resources Group, Bismarck, N.D.
The MDU Resources Board has named Brian Gray as president of construction materials subsidiary Knife River Corp., where 36-year veteran David Barney remains chief executive officer. With a Knife River tenure just shy of 30 years, Gray has headed the producer’s Northwest Region for a decade and overseen seven bolt-on acquisitions since 2018, most recently a deal for Oregon’s Baker Rock Resources.
His appointment is effective January and anticipates MDU’s tax-free spinoff of Knife River by mid-2023. “Dave and Brian have extensive business and leadership experience, and the board is confident they will continue to do an excellent job leading the organization as Knife River transitions to a stand-alone, publicly traded company,” says MDU Chair Dennis Johnson.
“Brian has a strategic mindset that has driven strong growth in Knife River’s Northwest Region,” adds MDU CEO David Goodin. “His business development experience complements Dave’s. They will make a great team leading Knife River to continued success, providing shareholders with attractive returns while ensuring the company continues to serve customers, communities and employees.”
MDU Resources Board sets 2023 Knife River Corp. spin off