Southwest Gas Holdings, Inc. (SWX) ("Southwest Gas" or the "Company") announced today that Paul M. Daily has informed the Company of his intention to retire in 2024 as President and Chief Executive Officer ("CEO") of Centuri Group, Inc. ("Centuri"), a wholly owned subsidiary of Southwest Gas. The Company and Mr. Daily intend that he remain as CEO of Centuri until his successor is appointed. Accordingly, Southwest Gas will commence a search, with the assistance of a leading executive search firm, to identify the next CEO of Centuri, considering both internal and external candidates. Mr. Daily will assist with the selection of his successor and facilitate the transition of his responsibilities.
"On behalf of the team at Southwest Gas and Centuri, I would like to thank Paul for his leadership as CEO of Centuri over the past eight years," said Karen Haller, President and Chief Executive Officer of Southwest Gas. "During Paul's tenure, Centuri has deepened the value it brings to electric and natural gas utilities, having grown and strengthened its core business of serving as a key utility infrastructure services provider to electric and natural gas utilities within the United States and Canada. We look forward to working with Paul to identify a CEO with the expertise to lead Centuri in the future and advance our efforts to maximize value for Southwest Gas stockholders. We wish Paul the best in his retirement."
"After more than 35 years in the industry, I am proud of the work that we have done at Centuri to build a unique high-growth utility infrastructure services business," said Paul M. Daily. "During my time leading the Centuri team, we have tripled the size of the business, diversified our core service offerings to include both electric and natural gas utility services, and expanded our operating footprint in support of our blue-chip utility clients and their 100+ million customers in over 80+ locations across 43 states and two Canadian provinces, all while providing our 12,000+ employees with a world-class safe working environment. I am confident now is the right time to identify Centuri's next CEO as we continue to advance our separation from Southwest Gas as a standalone, independent company. Centuri has an incredibly bright future ahead, and I will work closely with the Southwest Gas Board of Directors and management team, along with the entire Centuri management team, to ensure a smooth transition as we work to identify and onboard my successor."
The Company continues to advance the previously announced process to separate Centuri. The Company reaffirms both Southwest Gas and Centuri financial guidance.
