MDU Resources Group (MDU) Appoints German Carmona Alvarez to its Board

MDU Resources Group, Inc. (NYSE: MDU) today announced that German Carmona Alvarez has been appointed to the company's board of directors.

Carmona is global president, applied intelligence, at John Wood Group PLC, which provides consulting, project management and engineering solutions to the energy and built environment industries. His previous experience includes executive positions with Neoris, Cemex and the Boston Consulting Group. Carmona has extensive experience in continuous improvement practices, digital transformation, finance and human capital management.

"As we continue to focus on maximizing shareholder value and working toward the expected spinoff of Knife River Corporation, we look forward to having German share his construction industry expertise, financial acumen, and knowledge of shared corporate services, particularly related to human resources and information technology," said Dennis W. Johnson, chair of MDU Resources board of directors.

On Aug. 4, MDU Resources announced its intent to separate Knife River into an independent, publicly traded company. The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and be complete in 2023. On Nov. 3, MDU Resources announced a strategic review of its construction services subsidiary, MDU Construction Services Group, Inc., with the objective of achieving the board's goal to create two pure-play publicly traded companies.

Carmona, in addition to his general responsibilities on the board, will serve on the Compensation Committee and the Nominating and Governance Committee.

Carmona holds a bachelor's degree in mechanical engineering from Universidad Anáhuac in Mexico, a master's degree in engineering management from Cornell University in New York and a master's degree in business administration from Stanford University Graduate School of Business in California.

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