Northwest Natural Names New CEO, Sproul Takes Helm

Ticker: NWN · Form: 8-K · Filed: 2024-08-09T00:00:00.000Z

Sentiment: neutral

Topics: leadership-change, executive-appointment, board-of-directors

Related Tickers: NWN

TL;DR

NWN just named David Sproul CEO, effective immediately. Justin Kemker is out.

AI Summary

Northwest Natural Holding Company announced on August 9, 2024, the appointment of David J. Sproul as Chief Executive Officer and President, effective immediately. Sproul, who has been with the company since 2017 and previously served as President of Northwest Natural Gas Company, will also join the Board of Directors. He succeeds Justin J. Kemker, who will transition to an advisory role until his retirement on December 31, 2024.

Why It Matters

This leadership change at Northwest Natural Holding Company could signal a shift in strategic direction or operational focus under new executive leadership.

Risk Assessment

Risk Level: low — The filing details a planned leadership transition and appointment, which is a standard corporate event and does not inherently indicate significant new risks.

Key Players & Entities

FAQ

Who has been appointed as the new Chief Executive Officer and President of Northwest Natural Holding Company?

David J. Sproul has been appointed as the new Chief Executive Officer and President of Northwest Natural Holding Company, effective immediately.

When did David J. Sproul's appointment become effective?

David J. Sproul's appointment became effective on August 9, 2024.

What is the role of Justin J. Kemker following this announcement?

Justin J. Kemker will transition to an advisory role until his retirement on December 31, 2024.

Has David J. Sproul held previous leadership positions within the company?

Yes, David J. Sproul has been with the company since 2017 and previously served as President of Northwest Natural Gas Company.

Will the departing CEO, Justin J. Kemker, continue to serve on the Board of Directors?

The filing does not explicitly state whether Justin J. Kemker will continue to serve on the Board of Directors in his advisory role; it only mentions his transition to an advisory role until retirement.

Filing Stats: 1,695 words · 7 min read · ~6 pages · Grade level 14.1 · Accepted 2024-08-09 13:34:05

Key Financial Figures

Filing Documents

Forward-Looking Statements

Forward-Looking Statements This report, and other presentations made by NW Holdings or NW Natural from time to time, may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "assumes," "continues," "could," "intends," "plans," "seeks," "believes," "estimates," "expects," "will" and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements regarding the following: plans, objectives, assumptions, expectations, estimates, timing, goals, future events, and other statements that are other than statements of historical facts. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, geopolitical factors, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual results may differ materially from those contemplated by the forward-looking statements. You are therefore cautioned against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future operational, economic or financial performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are discussed by reference to the factors described in Part I, Item 1A "Risk Factors", and Part II, Item 7 and Item 7A "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosure about Market Risk" in the most recent Annual Report on Form 10-K and in Part I, Items 2 and 3 "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Quantitative and Qualitative Disclosures About Market Risk"

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits See Exhibit index below Exhibit Index Exhibit Description 99.1 Press Release of Northwest Natural Holding Company, issued August 9, 2024 (furnished and not filed). 104 Inline XBRL for the cover page of this Current Report on Form 8-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. The signature for each undersigned company shall be deemed to relate only to matters having reference to such company and its subsidiaries. NORTHWEST NATURAL HOLDING COMPANY (Registrant) Dated: August 9, 2024 /s/ Shawn M. Filippi Vice President, Chief Compliance Officer and Corporate Secretary NORTHWEST NATURAL GAS COMPANY (Registrant) Dated: August 9, 2024 /s/ Shawn M. Filippi Vice President, Chief Compliance Officer and Corporate Secretary

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