Chris Krummel
About Christopher A. Krummel
Independent director at Centuri Holdings (CTRI) since 2024; age 56; serves on Audit and Nominating & Corporate Governance committees and is designated an “audit committee financial expert.” Career spans 30+ years in energy and construction finance, including EVP/CFO of McDermott International (2019–2021) and founding partner of KEW Advisory (since 2022). Education: BSBA in Accounting (Creighton University) and MBA (The Wharton School, University of Pennsylvania) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| McDermott International Inc. | Executive Vice President & Chief Financial Officer | 2019–2021 | Led all finance functions; company filed Chapter 11 in Jan 2020 and emerged June 2020 (contextual risk experience) . |
| McDermott International Inc. | VP Finance & Chief Accounting Officer | 2016–2019 | Oversaw SEC reporting, FP&A, IR, IT . |
| EnTrans International LLC | Vice President & Chief Financial Officer | Not disclosed | Portfolio company of AIP; CFO role . |
| Cameron International Corporation | VP Finance, Controller & Chief Accounting Officer | Began Oct 2007 | Consolidated reporting, SEC filings, budgeting; senior accounting leadership . |
| Enventure Global Technology | Chief Financial Officer | Not disclosed | CFO for private equity–backed startup . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Krummel Ellis Weekley Advisory LLC (KEW) | Founding Partner | Since 2022 | M&A and sell-side advisory to energy-focused clients . |
| ACS Partners Holdco LLC | Director | Since 2024 | Privately held construction services company . |
| Rebuilding Together Houston | Director | Since 2007 | Non-profit board service . |
| Rebuilding Together Philadelphia | Director | 2001–2003 | Non-profit board service . |
| Eco-stim Energy Solutions | Director | 2014–2019 | Prior public-company board service . |
Board Governance
- Independence: Board determined Krummel is independent under NYSE rules .
- Committee memberships:
- Audit Committee: Member; designated as “audit committee financial expert” .
- Nominating & Corporate Governance Committee: Member .
- Attendance: In 2024, the Board held 3 regular and 3 special meetings; each director attended at least 75% of aggregate Board and committee meetings during periods of service .
- Executive sessions: Non-management directors expected to meet at least 4 times per year; independent directors at least once annually .
- Controlled company context: Centuri is a “controlled company” under NYSE rules; Southwest Gas Holdings (SWX) holds ~81% and designates directors, including Krummel, which can affect committee composition and board dynamics .
| Governance Item | Detail |
|---|---|
| Independence status | Independent director . |
| Committees | Audit; Nominating & Corporate Governance . |
| Audit Committee Financial Expert | Yes . |
| 2024 Attendance | ≥75% of Board/committee meetings (all directors met this threshold) . |
| Lead Independent Director | Not disclosed in proxy . |
Fixed Compensation
| Component | 2024 Amount |
|---|---|
| Fees earned or paid in cash | $71,250 . |
| Annual cash retainer program (reference) | $95,000 for non-employee directors; Chair/committee chair adders paid where applicable (Krummel not a chair) . |
| Meeting fees | Only payable in excess-meeting scenarios; none indicated in 2024 . |
Notes: 2024 cash fees reflect partial-year service post-IPO (program-level retainer shown for context) .
Performance Compensation
| Grant Type | Grant Date | Units | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| Time-lapse RSUs (director grant) | Apr 30, 2024 | 6,904 | $170,874 | Vests Apr 30, 2025 . |
- Director equity (from 2024 program) is time-based, not performance-based; non-employee directors will receive fixed-dollar annual equity grants ($145,000 for 2025, converted to share equivalents at fiscal-year-end price) .
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Considerations |
|---|---|---|
| ACS Partners Holdco LLC | Director | Private company; no disclosed transactions with Centuri . |
| Eco-stim Energy Solutions | Former Director | Prior public board; no current interlocks disclosed . |
| Southwest Gas Holdings influence | SWX is controlling stockholder; Krummel is identified among SWX designees to Centuri’s Board, which can shape governance structure despite independence status . |
Expertise & Qualifications
- Finance/accounting leadership; SEC reporting; investor relations; IT oversight; M&A execution (audit financial expert designation supports Audit Committee effectiveness) .
- Extensive energy and construction sector experience; operations exposure through prior roles .
- Education: BSBA (Creighton), MBA (Wharton) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding Shares | Notes |
|---|---|---|---|
| Christopher A. Krummel | 2,500 | <1% | As of Feb 24, 2025; outstanding shares 88,517,521 . |
- Director stock ownership guidelines: must accumulate ≥5× annual cash retainer in Centuri common stock within 5 years; proxy states all non-employee directors are currently in compliance .
- 2024 director RSU grant outstanding prior to vest (6,904 units; vests Apr 30, 2025) .
Governance Assessment
-
Strengths:
- Independence and audit committee financial expert designation bolster oversight of controls, reporting, cybersecurity, and risk .
- Relevant sector finance and M&A experience; presence on both Audit and Nominating committees supports board process and composition quality .
- Board requires executive sessions of non-management and independent directors; directors expected to attend annual meetings, enhancing accountability .
- Director ownership guideline and equity grants support alignment; proxy reports guideline compliance across non-employee directors .
-
Watch items / potential red flags:
- Controlled company status with SWX designation rights can constrain full independence of board/committees; Krummel is among SWX designees, which may shape governance outcomes even for independent directors .
- Prior CFO tenure during McDermott’s Chapter 11 (2020) is a risk indicator from a track record perspective; useful experience, but investors may scrutinize associations with restructurings .
- Personal share ownership (2,500 shares) is modest relative to total outstanding; alignment primarily via RSUs and guideline requirements rather than large outright ownership, though proxy indicates guideline compliance for all non-employee directors .
-
Related-party/transactions:
- No related-party transactions disclosed involving Krummel; broader company related-party ties include controlled-company relationships with SWX and customer exposure to AEP (not linked to Krummel) .
-
Attendance and engagement:
- 2024 attendance met ≥75% threshold for all directors; committee meeting cadence: Audit (5), Compensation (3), Nominating & Corporate Governance (3) .
Overall, Krummel brings relevant financial and sector expertise and serves in governance-critical committee roles with audit financial expert designation. The primary governance risk is structural—Centuri’s controlled-company status and SWX designation rights—rather than individual conflicts tied to Krummel, with additional scrutiny warranted given his CFO experience during McDermott’s restructuring .