Centuri Holdings Appoints New CFO and Chief Legal & Administrative Officer

What Happened

• Centuri Holdings, Inc. announced leadership changes in an 8-K filed Aug 12, 2026: Kelly Youngblood was appointed Executive Vice President, Chief Financial Officer, and Danielle Hunter was appointed Executive Vice President, Chief Legal & Administrative Officer and Corporate Secretary. Both appointments are effective August 12, 2026. Gregory A. Izenstark (CFO) and Jason S. Wilcock (Chief Legal & Administrative Officer) are being replaced; the company expects to enter into severance/release agreements with each outgoing officer.

Key Details

• Kelly Youngblood: age 60; prior roles include CFO of MRC Global (Mar 2020–Nov 2025) and executive advisor to DNOW’s CEO (Nov 2025–Mar 2026). Employment agreement effective Aug 12, 2026 provides:
  • Base salary: $680,000 per year
  • Annual bonus target: 85% of base salary (prorated for 2026)
  • Long-term incentive target (from 2027): 225% of base salary
  • Upfront restricted stock units grant with grant-date value of $2,030,000 (includes 2026 LTI award + $500,000), vesting in three equal annual installments
  • Severance if terminated without cause or for good reason: generally lump-sum equal to 2x base salary (plus unpaid prior-year bonus and COBRA subsidy for 24 months); enhanced benefits if termination occurs within 24 months after a change in control (full equity vesting with performance awards deemed at target, expanded cash and benefit payments)
  • Subject to standard restrictive covenants (confidentiality, non-compete, non-solicit, IP) and an indemnification agreement.
• Danielle Hunter: most recently President of Berry Corporation (Jan 2023–Dec 2025); formerly EVP & General Counsel at Berry and prior senior legal roles at C&J Energy and Vinson & Elkins. Company will provide Mr. Wilcock his contractual termination without-cause severance as described in Centuri’s April 6, 2026 proxy; revocation right for seven days applies to each outgoing officer’s severance agreement.
• The company issued a press release on Aug 12, 2026 announcing these leadership changes; the Youngblood employment agreement is filed as Exhibit 10.1 to the 8-K.

Why It Matters

• Management changes at the CFO and chief legal levels are material corporate-governance events that can affect investor confidence, disclosure processes and financial strategy. Investors should note the new CFO’s substantial compensation package and severance protections (including change-in-control provisions), which reflect the company’s commitment to secure experienced financial leadership. The filings also confirm orderly transition mechanics (severance/release agreements for departing officers) rather than abrupt departures without negotiated terms.