BRISTOL, Tenn., July 29, 2019 /PRNewswire/ -- Contura Energy,
Inc. (NYSE: CTRA), a leading U.S. coal supplier, today announced
that its board of directors has unanimously appointed David J. Stetson as the company's new chief
executive officer and as a member of the board, effective
July 29, 2019. Mr. Stetson previously
served on Contura's board of directors from November 2018 through April 2019.
"Since we began this search process, our board has focused on
identifying a candidate with the right mix of coal market acumen,
robust executive experience, strategic ability, and natural
leadership talent to create value for Contura's shareholders," said
board chairman, Neale Trangucci.
"David exemplifies these qualities and, combined with his existing
familiarity with many of Contura's operational assets, will no
doubt hit the ground running in leading Contura forward."
Mr. Stetson brings extensive and diverse industry experience to
the role, having most recently served as chairman of the board of
directors and chief executive officer of both ANR, Inc. and Alpha
Natural Resources Holdings, Inc. (together, Alpha) from
July 2016 until Alpha's merger with
Contura in November 2018. Prior to
leading Alpha, Mr. Stetson held a number of executive
leadership positions with various energy companies including
Trinity Coal Corporation, American Resources Offshore, Inc.,
Lexington Coal Company, and Lipari Energy Inc. Mr. Stetson earned a
bachelor of science degree from Murray State
University, a juris doctor degree from the Brandeis School
of Law at the University of Louisville,
and a master of business administration degree from the
University of Notre Dame.
"I welcome the opportunity to lead Contura into the future, and
I look forward to working alongside its talented management team
for the benefit of our many diverse stakeholders," said Mr.
Stetson. "With its high-quality assets, strong customer
relationships, and some of the most experienced, hardest working
miners in the coal industry, I believe Contura is well positioned
for success."
As previously announced, when Contura's prior chief executive
officer departed the company in May
2019 to pursue an opportunity outside of the coal industry,
Andy Eidson, Contura's executive
vice president and chief financial officer, and Mark Manno, Contura's executive vice president,
chief administrative and legal officer and secretary, were
appointed as interim co-chief executive officers while the board
conducted its search for Contura's permanent CEO. Concurrent with
Mr. Stetson's appointment, Mr. Eidson and Mr. Manno will return to
their prior roles with the company.
ABOUT CONTURA ENERGY
Contura Energy (NYSE: CTRA) is a Tennessee-based coal supplier with affiliate
mining operations across major coal basins in Pennsylvania, Virginia and West
Virginia. With customers across the globe, high-quality
reserves and significant port capacity, Contura Energy reliably
supplies both metallurgical coal to produce steel and thermal coal
to generate power. For more information, visit
www.conturaenergy.com.
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking
statements. These forward-looking statements are based on
Contura's expectations and beliefs concerning future events and
involve risks and uncertainties that may cause actual results to
differ materially from current expectations. These factors are
difficult to predict accurately and may be beyond Contura's
control. Forward-looking statements in this news release or
elsewhere speak only as of the date made. New uncertainties
and risks arise from time to time, and it is impossible for Contura
to predict these events or how they may affect Contura. Except
as required by law, Contura has no duty to, and does not intend to,
update or revise the forward-looking statements in this news
release or elsewhere after the date this release is issued. In
light of these risks and uncertainties, investors should keep in
mind that results, events or developments discussed in any
forward-looking statement made in this news release may not
occur.
INVESTOR
CONTACT
investorrelations@conturaenergy.com
Alex Rotonen, CFA
423.573.0396
MEDIA
CONTACTS
corporatecommunications@conturaenergy.com
Rick Axthelm
423.573.0304
Emily O'Quinn
423.573.0369
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SOURCE Contura Energy, Inc.