Black Hills Corp. Announces Two New Appointments to Board of Directors

Rhea-AI Summary

Black Hills Corp. (NYSE: BKH) announced the appointment of Barry M. Granger and Scott M. Prochazka to its board of directors, effective October 1, 2020. This decision coincides with a temporary expansion of the board's size from 10 to 12 directors, anticipating future retirements. Chairman Steven Mills expressed confidence that their expertise will enhance board effectiveness. Granger brings over 35 years of experience from DuPont and Dow Chemical, while Prochazka has a strong background in regulated utilities, previously serving as CEO of CenterPoint Energy, emphasizing innovation and customer focus.

Positive

• Appointment of experienced directors Granger and Prochazka could improve strategic decision-making.
• Granger's extensive background in chemical engineering and corporate governance may enhance operational efficiency.
• Prochazka's prior CEO experience and industry knowledge could foster growth and innovation at Black Hills.

Negative

• Expansion of the board could lead to potential governance challenges if not managed effectively.

RAPID CITY, S.D., Sept. 18, 2020 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced the appointment of Barry M. Granger and Scott M. Prochazka to its board of directors, effective Oct. 1, 2020. In anticipation of future retirements, the board also temporarily increased the size of the board from 10 to 12 directors.

“We are pleased to welcome Barry and Scott as new independent directors to the Black Hills board,” said Steven Mills, chairman of the board of Black Hills Corp. “We are confident that their experience, knowledge and leadership will add significant value to the board. Barry and Scott are joining Black Hills at an exciting time as we advance our Ready to Serve commitment and execute our long-term, sustainable growth strategy.”

Granger has more than 35 years of experience in the chemical and industrial industries, including a 35-year career at DuPont and Dow Chemical Companies, successfully growing complex and large businesses, developing and commercializing new technologies and optimizing business processes. He also brings corporate governance experience, having served on corporate and non-profit boards, including strategy, finance and governance/nominating committees.

Granger received a Bachelor of Science degree in chemical engineering from South Dakota School of Mines & Technology and a Master of Business Administration in industrial management from Indiana University. He was honored with the prestigious Consortium Fellowship for Graduate Studies in Management for his academic achievements and named one of the “Most Influential Black Leaders in Corporate America” by Savoy Magazine in 2016 for his career business accomplishments.

Prochazka is an accomplished and experienced senior executive and leader within the regulated utilities industry, with a reputation as an innovative operator with a focus on customer experience, growth and continuous improvement. He was most recently president and CEO of CenterPoint Energy, a company with over $30 billion of electric and natural gas utility assets, serving 7 million customers in eight states. During his nearly 20-year career at CenterPoint, Prochazka advanced through a variety of leadership roles in strategic planning, customer service, gas utility operations and electric utility operations, before becoming CEO.

Prochazka brings extensive knowledge in both natural gas and electric utilities, demonstrating success in strategic, collaborative and innovative growth. He is a recognized industry leader and has served on the boards of the American Gas Association, the Edison Electric Institute and the Electric Power Research Institute, as well as other public company and charitable boards. Prochazka received a Bachelor of Science degree in chemical engineering from the University of Texas at Austin.

Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.28 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.

Investor Relations
Jerome E. Nichols
605-721-1171
jerome.nichols@blackhillscorp.com

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888-242-3969

FAQ

Who are the new directors appointed to Black Hills Corp. (BKH)?

Barry M. Granger and Scott M. Prochazka have been appointed as new independent directors.

Why did Black Hills Corp. (BKH) expand its board size?

The board increased in size to accommodate future retirements, temporarily growing from 10 to 12 directors.

What experience do the new board members of Black Hills Corp. (BKH) bring?

Granger has 35 years in the chemical industry, and Prochazka has extensive experience in regulated utilities, including as CEO of CenterPoint Energy.

When does the new board member appointment take effect for Black Hills Corp. (BKH)?

The appointments of Granger and Prochazka take effect on October 1, 2020.

What are the expectations for the new directors at Black Hills Corp. (BKH)?

The company expects their leadership and expertise to add significant value and advance its long-term growth strategy.