After 22 years on the board of directors of Bismarck-based MDU Resources, Harry Pearce is stepping down.
Pearce has been the chair of the board for the past 14 years.
"It's been a great ride, I'll say that," Pearce said.
Before joining MDU, Pearce had been the vice-president for General Motors, before joining MDU. He had been a partner in the Pearce and Durick Law Firm in Bismarck. Pearce had served as a Bismarck City Commissioner and municipal judge, as well as a US Magistrate.
Pearce said one of the most important changes in MDU Resources was selling off the company’s oil and gas business, Fidelity Oil. He says the company decided it couldn’t compete with the big players in that industry.
"Stick to your knitting -- that was our philosophy," Pearce said in an interview with Prairie Public.
Pearce said that meant MDU wanted to concentrate on the businesses it knows well – utilities, pipelines, construction service and building materials.
"I believe you will see, over the next decade, continuing growth," Pearce said. "We've made a lot of acquisitions recently, and committed several hundreds of millions of dollars to new acquisitions. There will be a solid payback for that."
Pearce also said he’s been impressed with the employees of MDU Resources – not just the management, but everyone who works there.
