Centuri Completes Separation from Southwest Gas Holdings, Announces Updates to Board of Directors

By: Centuri Holdings, Inc. via Business Wire

September 15, 2025 at 16:15 PM EDT

Centuri Holdings, Inc. (NYSE: CTRI) (“Centuri” or the “Company”) today announced the completion of its final separation from Southwest Gas Holdings, Inc. (“Southwest Gas”) upon the closing of the offering by Southwest Gas of its remaining 27,362,210 shares of Centuri’s common stock on September 5. Centuri did not sell any shares of its common stock and did not receive any proceeds from the sale of its common stock by Southwest Gas in the offering.

As a result of Southwest Gas’ ownership exit, Centuri announced the appointment of Christopher Krummel as the Chair of its Board of Directors replacing Karen Haller, who has also resigned from the Board’s compensation committee, effective September 15, 2025. Ms. Haller will remain on the Centuri Board of Directors. Serving as an independent Board Chair, Mr. Krummel has over 30 years of financial executive experience in the energy and construction industries and has served on the Centuri Board since the Company’s IPO in 2024. He brings a deep understanding of Centuri’s business priorities, strategic vision, and stakeholder values.

“We enter this new chapter as a fully, standalone public company with confidence and clarity, and we are optimistic about what we can achieve,” said Christian Brown, President and CEO of Centuri. “Given our strong business fundamentals and the opportunities in our core gas and electric end markets, we are enthusiastic about the future and will continue working to earn and build trust with our shareholders through predictable earnings growth, execution and capital efficiency. With Chris Krummel at the helm of our Board, we are well-positioned to continue building sustainability and consistency, strengthening governance, and delivering long-term value to our shareholders.”

The company expressed gratitude to Ms. Haller and Southwest Gas for their years of leadership and investment, which helped establish Centuri as one of the largest utility infrastructure services companies in North America.

Mr. Krummel added, “I’m honored to take on this role, and our Board remains committed to guiding Centuri with integrity, agility, and a clear focus on sustainable success. We will continue to prioritize transparency, strategic oversight, and stakeholder alignment.”

About Centuri

Centuri Holdings, Inc. is a strategic utility infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can often be identified by the use of words such as “will,” “predict,” “continue,” “forecast,” “expect,” “believe,” “anticipate,” “outlook,” “could,” “target,” “project,” “intend,” “plan,” “seek,” “estimate,” “should,” “may” and “assume,” as well as variations of such words and similar expressions referring to the future. The specific forward-looking statements made herein include (without limitation) statements regarding Centuri’s expectations with respect to its future as a standalone public company. A number of important factors affecting the business and financial results of Centuri could cause actual results to differ materially from those stated in any forward-looking statements. These factors include, but are not limited to, capital market risks and the impact of general economic or industry conditions. Factors that could cause actual results to differ also include (without limitation) those discussed in Centuri’s filings filed from time to time with the U.S. Securities and Exchange Commission. The statements in this press release are made as of the date of this press release, even if subsequently made available by Centuri on its website or otherwise. Centuri does not assume any obligation to update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.