ST. LOUIS, May 4, 2015 /PRNewswire/ -- Peabody Energy (NYSE:
BTU) announced today that Glenn
Kellow has been elected to the role of President and Chief
Executive Officer. Kellow joined Peabody as President and
Chief Operating Officer in September
2013, and was named CEO-Elect and added to the board of
directors in January 2015. He succeeds Gregory H. Boyce, who remains as Executive
Chairman. "The board enthusiastically welcomes Glenn to the office
of President and Chief Executive Officer," said Boyce. "We
are confident that his experience, skills, values and vision will
help shape a stronger company now and in the many years ahead."
"Today, we begin an important new phase in our previously
announced succession process," said Peabody Energy Lead Independent
Director Bob A. Malone. "On
behalf of the board of directors, we thank Greg for his exceptional
leadership during an extraordinary decade of both growth and
challenge in the global coal industry. We look forward to his
continued counsel as Executive Chairman."
At the company's annual shareholder meeting, Kellow acknowledged
that the industry was at a difficult part of the cycle with
multiple headwinds, but also noted that global coal demand growth
was expected to continue for decades to come and the company would
take the steps necessary to succeed in all market
conditions.
"It is an honor to lead Peabody Energy, where underlying
strength comes from its people, its assets, and the vital role that
its products provide to serve the world's energy and steel
markets," Kellow said. "While this is a challenging time, we have
identified four areas of emphasis – operational, selling and
administrative, financial and portfolio – to strengthen our
company. These areas of emphasis, along with our exposure to
key markets, provide Peabody multiple avenues for success. I
look forward to leading this team as we advance with speed, focus
and purpose to create superior long-term shareholder value."
Since joining Peabody in 2013, Kellow has led an operational
team that has significantly improved safety, productivity and
costs, while achieving a host of other corporate accomplishments.
Kellow has worked across a broad range of commodities spanning
three decades. Prior to joining Peabody, he held multiple
leadership posts on three continents over a 28-year career with BHP
Billiton. He has held a number of executive, operating and
financial positions in the coal, copper, base metals, steel and
petroleum sectors in the United
States, Australia and
Chile.
Peabody Energy is the world's largest private-sector coal
company and a global leader in sustainable mining, energy access
and clean coal solutions. The company serves metallurgical and
thermal coal customers in more than 25 countries on six continents.
Peabody was named Energy Company of the Year at the 2014 Platts
Global Energy Awards. For further information, visit
PeabodyEnergy.com and AdvancedEnergyForLife.com.
CONTACT: Chris Curran, (314)
588-2765
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SOURCE Peabody Energy