Palfreyman to succeed the retiring David H. Anderson
The Board of Directors of NW Natural Holdings and NW Natural elected Justin B. Palfreyman to the position of President and Chief Executive Officer of Northwest Natural Holdings and Chief Executive Officer of NW Natural, effective April 1, 2025. Palfreyman will succeed David H. Anderson, who is retiring.
“I am honored to have the opportunity to lead this great company,” Palfreyman said. “Our employees, customers and communities have benefited greatly from David’s tremendous leadership since 2016, and I am excited to build off of what he and the team accomplished during his tenure. We are in a strong strategic and financial position, and I am eager to lead NW Natural into its next chapter, marked by growth across our four businesses and a continued focus on our culture of customer service and safety.”
Malia H. Wasson, chair of NW Natural Holdings’ Board, praised both Palfreyman and Anderson: “Justin has proven that he has the right skills and leadership capacity to succeed as CEO. His many strengths have been evident throughout his time here, beginning with his roles in strategy and business development, as president of NW Natural Water, and especially during his last two years as president of NW Natural Holdings. The Board is very excited to support Justin as he moves into his new role.”
Wasson continued, “It would be difficult to overstate David’s impact on the company. He built the platform for our water and renewables businesses, expanded our gas utility operations into Texas, and set the vision for decarbonizing while continuing to grow the company. He did all of this despite a number of challenges and without ever wavering in his commitment to the company’s core values. David is leaving the company in both great shape and good hands.”
Anderson became NW Natural Holdings’ CEO in August of 2016 after serving as president and chief operating officer (COO). He came to the company in 2004, and his tenure has included service as executive vice president and senior vice president and chief financial officer.
“I am grateful for the privilege I’ve had to lead NW Natural Holdings and the talented, committed people who work here. It is very important to our board and to me that we position the company for future success, and I believe that we have done that with the election of Justin to succeed me. His strong industry experience, strategic mindset, and excellent leadership skills will serve him and the company well. He will be a terrific CEO; our people—my incredible NW Natural colleagues—deserve nothing less.”
Palfreyman joined the company in 2016 and since then has served in various executive roles over business development, strategy, and president of NW Natural Water. In May 2023, he was promoted to NW Natural Holdings’ and NW Natural’s president. Prior to joining the company, Palfreyman served in various roles in investment banking covering the power, energy and infrastructure sector. He graduated from Pacific Lutheran University with a Bachelor of Business Administration, holds a Master of Business Administration (MBA) from The University of Chicago Booth School of Business, and holds a Master of Public Policy (MPP) from The University of Chicago Irving B. Harris School of Public Policy.
Discover the latest trends and insights—explore the Business Insights Journal for up-to-date strategies and industry breakthroughs!
