MDU Resources Group Management
Management criteria checks 1/4
MDU Resources Group's CEO is Nicole Kivisto, appointed in Jan 2024, has a tenure of 1.5 years. total yearly compensation is $5.63M, comprised of 17.2% salary and 82.8% bonuses, including company stock and options. directly owns 0.17% of the company’s shares, worth €4.80M. The average tenure of the management team and the board of directors is 4.8 years and 1.2 years respectively.
Key information
Nicole Kivisto
Chief executive officer
US$5.6m
Total compensation
| CEO salary percentage | 17.16% |
| CEO tenure | 1.5yrs |
| CEO ownership | 0.2% |
| Management average tenure | 4.8yrs |
| Board average tenure | 1.2yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2025 | n/a | n/a | US$189m |
| Dec 31 2024 | US$6m | US$966k | US$181m |
| Sep 30 2024 | n/a | n/a | US$218m |
| Jun 30 2024 | n/a | n/a | US$234m |
| Mar 31 2024 | n/a | n/a | US$321m |
| Dec 31 2023 | US$2m | US$550k | US$330m |
| Sep 30 2023 | n/a | n/a | US$414m |
| Jun 30 2023 | n/a | n/a | US$378m |
| Mar 31 2023 | n/a | n/a | US$266m |
| Dec 31 2022 | US$2m | US$530k | US$117m |
| Sep 30 2022 | n/a | n/a | US$233m |
| Jun 30 2022 | n/a | n/a | US$330m |
| Mar 31 2022 | n/a | n/a | US$394m |
| Dec 31 2021 | US$2m | US$508k | US$243m |
| Sep 30 2021 | n/a | n/a | US$403m |
| Jun 30 2021 | n/a | n/a | US$417m |
| Mar 31 2021 | n/a | n/a | US$417m |
| Dec 31 2020 | US$2m | US$487k | US$391m |
| Sep 30 2020 | n/a | n/a | US$373m |
| Jun 30 2020 | n/a | n/a | US$356m |
| Mar 31 2020 | n/a | n/a | US$320m |
| Dec 31 2019 | US$2m | US$455k | US$335m |
| Sep 30 2019 | n/a | n/a | US$316m |
| Jun 30 2019 | n/a | n/a | US$288m |
| Mar 31 2019 | n/a | n/a | US$269m |
| Dec 31 2018 | US$1m | US$430k | US$269m |
Compensation vs Market: Nicole's total compensation ($USD5.63M) is above average for companies of similar size in the German market ($USD1.93M).
Compensation vs Earnings: Nicole's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
CEO
Nicole Kivisto (52 yo)
Ms. Nicole A. Kivisto serves as President, Chief Executive Officer and Director at MDU Resources Group, Inc. since January 6, 2024. She served as President and Chief Executive Officer of Montana-Dakota Uti...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.5yrs | US$5.63m | 0.17% € 4.8m | |
| Chief Financial Officer | 7.8yrs | US$2.86m | 0.12% € 3.3m | |
| Chief Human Resources | 9.5yrs | US$1.37m | 0.048% € 1.4m | |
| Chief Utilities Officer | 1.5yrs | US$1.42m | 0.041% € 1.2m | |
| President & CEO of Everus Construction Group | 13.5yrs | US$1.86m | 0.14% € 3.9m | |
| President of WBI Energy | 2.1yrs | US$1.27m | 0.048% € 1.4m | |
| Chief Accounting & Regulatory Affairs Officer | 7.8yrs | no data | 0.034% € 963.1k | |
| Chief Information Officer | less than a year | no data | 0.0045% € 129.6k | |
| Chief Legal Officer & Corporate Secretary | less than a year | no data | no data | |
| Executive Vice President of Everus Construction | no data | US$886.64k | no data | |
| Vice President of Accounting & Enterprise information Technology - Everus Construction | 7.5yrs | US$611.19k | no data |
Experienced Management: MRE's management team is considered experienced (4.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.5yrs | US$5.63m | 0.17% € 4.8m | |
| Independent Chairman | 1.7yrs | US$268.85k | 0.0047% € 133.1k | |
| Independent Director | 24.5yrs | US$410.94k | 0.088% € 2.5m | |
| Independent Director | less than a year | US$43.34k | 0.0029% € 82.8k | |
| Independent Director | less than a year | US$108.37k | 0.0018% € 52.3k | |
| Independent Director | 1.2yrs | US$176.73k | 0.0027% € 76.2k | |
| Independent Director | less than a year | no data | no data |
Experienced Board: MRE's board of directors are not considered experienced ( 1.2 years average tenure), which suggests a new board.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/07/09 23:45 |
| End of Day Share Price | 2025/07/09 00:00 |
| Earnings | 2025/03/31 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
MDU Resources Group, Inc. is covered by 17 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Gary Hovis | Argus Research Company |
| David Parker | Baird |
| Richard Gross | Barclays |