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Contura Energy Announces Board and Leadership Changes

Coal News - Published on Tue, 20 Aug 2019

Image Source: PR Newswire
Contura Energy Inc, a leading US coal supplier, announced a number of changes to both its board of directors and senior management. 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.

Mr David Stetson, Chairman and chief executive officer, said that “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. I thank our departing board members for the significant contributions each made during their service on behalf of our diverse stakeholders.”

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Posted By : Sanju Moirangthem on Tue, 20 Aug 2019
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