BRISTOL, Tenn., Aug. 13, 2019 /PRNewswire/ -- Contura
Energy, Inc. (NYSE: CTRA), a leading U.S. coal supplier, today
announced a number of changes to both its board of directors and
senior management.
On Monday, August 12, the
company's board of directors took action to reconfigure the board's
composition, reducing its size to five members, including one
vacancy, while reserving the ability to increase the board's size
and appoint one or more additional board members in the
future.
In order to assist with the board's reconfiguration,
Anthony Orlando, Harvey L. Tepner, Michael Ward, and previous board chair
Neale X. Trangucci, have each
voluntarily resigned from the board, effective Monday, August 12. None of their resignations was
the result of any disagreement with Contura on any matter relating
to the company's operations, policies or practices.
Subsequently, Contura's remaining board members, David J. Stetson, who is Contura's chief
executive officer, Albert E. Ferrara,
Jr., Daniel J. Geiger, and
John E. Lushefski, unanimously
elected Mr. Stetson as chairman of the board and Mr. Lushefski as
lead independent director, each effective Monday, August 12. The board has asked that the
company's Nominating and Corporate Governance committee identify
and review potential, qualified candidates to join the board
in the near term.
"These changes to our board structure and membership begin an
effort to better align our board's size, industry experience, and
market expertise with the company's strategic focus going forward,"
said chairman and chief executive officer, David Stetson. "I thank our departing board
members for the significant contributions each made during their
service on behalf of our diverse stakeholders."
The company also announced today two changes to its executive
management team.
Effective Wednesday, August 14,
Contura's current executive vice president and chief operating
officer, Scott Kreutzer, will
transition to a newly created position of executive vice president
and chief strategy officer. In this role, Mr. Kreutzer will lead
the strategic planning and development efforts for the company and
continue to serve on Contura's management team. Mr. Kreutzer has
served in his current role at Contura since January 2018, having previously served in various
other senior leadership roles at Contura and its predecessor
company, Alpha Natural Resources, since 2011.
Joining Contura's management team as the company's new executive
vice president and chief operating officer, effective Wednesday, August 14, will be Jason Whitehead, former chief operating officer
at Alpha Natural Resources. Mr. Whitehead brings nearly twenty
years of Central Appalachian (CAPP) and Northern Appalachian (NAPP)
coal mining experience to the role, more than a decade of which he
served in senior operational management positions within the
industry.
Both positions will report directly to Contura's chief executive
officer, David Stetson.
"Scott's skillset and strong business acumen are perfect for
this new role to help bolster Contura's readiness in identifying
and capitalizing on strategic opportunities to best position
ourselves within both domestic and international coal markets,"
said Mr. Stetson. "Additionally, Jason's depth of coal mining
experience, particularly with many of Contura's existing high value
met operations, will be a great addition to an already top-notch
management team and a true asset to the organization."
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.