Business

MDU Resources chief financial officer retiring

admin Contributor

BISMARCK, N.D. (AP) — Energy company MDU Resources Group Inc. said Wednesday that its chief financial officer will retire Feb. 16 after a 30-year career there.

Vernon A. Raile is also executive vice president and treasurer. The company did not mention a replacement.

MDU said it has a policy that officers retire at age 65. Raile was 64 last March, according to the company’s most recent proxy.

CEO Terry D. Hildestad said Raile helped arrange financing for MDU’s two biggest acquisitions.

Raile joined the company in 1980 as tax manager and held a series of finance jobs before being named CFO in 2006.

MDU generates and sells electricity and produces oil and natural gas.

Its shares fell 2 cents to $23.83 in afternoon trading.