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8-K - FORM 8-K - Patriot Coal CORP | c60024e8vk.htm |
Exhibit 99.1
NEWS RELEASE
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CONTACT: | ||
Janine Orf | ||
(314) 275-3680 | ||
jorf@patriotcoal.com |
FOR IMMEDIATE RELEASE
PATRIOT COAL ANNOUNCES MANAGEMENT CHANGES
ST. LOUIS, August 24 Patriot Coal Corporation announced today that Paul H. Vining is
stepping down as President & Chief Operating Officer, effective immediately. In order to ensure a
smooth transition of his responsibilities, Mr. Vining has agreed to continue in a senior advisory
role at Patriot for a period which could extend through the end of this year.
The Company also announced that Charles A. Ebetino, Jr. will assume the position of Senior
Vice President & Chief Operating Officer, with responsibility for all of Patriots mining
operations. Mr. Ebetino has served as Patriots Senior Vice President Corporate Development
since its 2007 spin-off. Ebetino has more than 30 years of operating and commercial experience in
the coal and utility industries, including prior senior management roles at Peabody Energy and
American Electric Power, where he served as President & Chief Operating Officer of AEPs coal
mining and coal-related subsidiaries from 1993 until 2002. Chucks prior management experience,
combined with his operating background and specific knowledge of Patriots operations, make him an
excellent fit for this position, stated Patriot Chief Executive Officer Richard M. Whiting. His
deep understanding of all aspects of coal mining and marketing will serve the Company well as he
assumes this critical role, continued Whiting.
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As a result of this organizational change, Mr. Whiting will assume the role of President,
while also continuing in his current capacity as Chief Executive Officer. In addition to Mr.
Ebetino, who will continue to report to Whiting in his new role, Patriots senior management
team will be configured as follows:
| Mark N. Schroeder will continue as Senior Vice President & Chief Financial Officer, while assuming additional responsibilities for Corporate Development activities | ||
| Robert W. Bennett will continue as Senior Vice President & Chief Marketing Officer, now reporting directly to Mr. Whiting | ||
| Joseph W. Bean will continue as Senior Vice President Law & Administration, General Counsel & Corporate Secretary |
We would like to thank Paul for his leadership and for his commitment to safe mining
operations. Pauls efforts have been key to the successful integration of the Magnum operations
into Patriot over the past two years, observed Whiting, and we certainly wish him well with his
future endeavors.
About Patriot Coal
Patriot Coal Corporation is a leading producer and marketer of coal in the eastern United States,
with 14 current mining complexes in Appalachia and the Illinois Basin. The Company ships to
domestic and international electric utilities, industrial users and metallurgical coal customers,
and controls approximately 1.8 billion tons of proven and probable coal reserves. The Companys
common stock trades on the New York Stock Exchange under the symbol PCX.
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