Hall Retires from Alliance Boards; Carter Elected to Alliance Resource Management GP, LLC Board of Directors & Torrence Elect...
April 24 2015 - 5:08PM
Business Wire
Alliance Holdings GP, L.P. (NASDAQ: AHGP) and Alliance Resource
Partners, L.P. (NASDAQ: ARLP) (collectively "Alliance") today
announced that Michael J. Hall has retired as a director of
Alliance GP, LLC ("AGP"), the general partner of AHGP, and Alliance
Resource Management GP, LLC ("MGP"), the managing general partner
of ARLP.
"Mike Hall has been a key member of the Alliance team since
2003," said Mr. Joseph W. Craft III, President and CEO of ARLP and
AHGP. "Mike’s service on the boards of both MGP and AGP has been
invaluable to the growth enjoyed by the Alliance Partnerships over
the last 12 years and he has our deepest appreciation and gratitude
for his many contributions to our success."
Concurrent with Mr. Hall’s retirement, Alliance also announced
the election of new directors to the boards of MGP and AGP. Nick
Carter has joined the board of MGP and will serve as a member of
its Audit, Conflicts and Compensation Committees. Wilson M. (Mack)
Torrence has joined the board of AGP and will serve as Chairman of
its Audit Committee. Mr. Torrence will also continue to serve as a
director of MGP and a member of its Compensation Committee and has
assumed the role of Chairman of its Audit Committee.
"I am pleased to welcome Nick Carter to the Alliance team," said
Mr. Craft. "Nick is a respected leader in the coal industry and
brings decades of knowledge and experience to the MGP board. I am
also pleased that Mack Torrence has agreed to expand his commitment
to Alliance by joining the AGP board and continuing to serve on the
MGP board. We look forward to the guidance and counsel of both Nick
and Mack as Alliance pursues its goal of creating value for
unitholders."
Mr. Carter, 68, retired on September 1, 2014 as President and
Chief Operating Officer of Natural Resource Partners L.P. and its
subsidiaries, having served in those positions since 2002. He also
served as President of the general partner of Western Pocahontas
Properties Limited Partnership and New Gauley Coal Corporation
since 1990 and as President of the general partner of Great
Northern Properties Limited Partnership from 1992 to 1998. Prior to
1990, Mr. Carter held various positions with MAPCO Coal Corporation
and was engaged in the private practice of law. He currently serves
as a director on the boards of Community Trust Bancorp, Inc. and
Vigo Coal Company, Inc. and is Chairman of the board of New
Birmingham, Inc. Mr. Carter previously served as Chairman of the
National Council of Coal Lessors, the Huntington Regional Chamber
of Commerce, the West Virginia Chamber of Commerce and Junior
Achievement of the Ohio Valley. Mr. Carter also served as a board
member of the National Mining Association, American Coalition for
Clean Coal Energy, Federation for American Coal Energy and
Security, Kentucky Coal Association, West Virginia Coal
Association, Illinois Coal Association and Indiana Coal Council.
Mr. Carter holds Bachelor of Science and Juris Doctorate degrees
from the University of Kentucky and a Masters of Business
Administration from the University of Hawaii.
Mr. Torrence, 74, became a director of MGP and a member of its
Compensation and Conflicts Committees in January 2007 and a member
of its Audit Committee in April 2008. He retired from Fluor
Corporation in 2006 as a Senior Vice President and is currently
performing investment and business consulting services for clients
in various energy related businesses. Mr. Torrence was responsible
at Fluor for the global Project Development, Investment and
Structured Finance Group and served as Chairman of Fluor’s
Investment Committee. In that position, he had executive
responsibility for Fluor’s global activities in developing and
arranging third-party financing for some of Fluor’s clients’
construction projects. Prior to joining Fluor in 1989, he was
President and CEO of Combustion Engineering Corporation’s Waste to
Energy Division and during that time also served as Chairman of the
Institute of Resource Recovery, a Washington-based industry
advocacy organization. Mr. Torrence began his career at Mobil Oil
Corporation, where he held several executive positions, including
Assistant Treasurer of Mobil’s International Marketing and Refining
Division and Chief Financial Officer of Mobil Land Development
Company. From October 2006 to March 2007, Mr. Torrence served as
Chief Financial Officer and as a Director of Cleantech America,
LLC, a company involved in development of central station solar
generating plants. He holds Bachelor and Masters degrees in
Business Administration from Virginia Tech University.
About Alliance Resource Partners, L.P.
ARLP is a diversified producer and marketer of coal to major
United States utilities and industrial users. ARLP, the nation's
first publicly traded master limited partnership involved in the
production and marketing of coal, is currently the third largest
coal producer in the eastern United States with mining operations
in the Illinois Basin and Appalachian coal producing regions. ARLP
operates ten mining complexes in Illinois, Indiana, Kentucky,
Maryland and West Virginia. ARLP is also purchasing reserves,
operating surface facilities and making equity investments in a new
mining complex in southern Illinois. In addition, ARLP operates a
coal loading terminal on the Ohio River at Mount Vernon,
Indiana.
News, unit prices and additional information about ARLP,
including filings with the Securities and Exchange Commission, are
available at http://www.arlp.com. For more information, contact the
investor relations department of Alliance Resource Partners, L.P.
at (918) 295-7674 or via e-mail at investorrelations@arlp.com.
About Alliance Holdings GP, L.P.
AHGP is a limited partnership formed to own and control Alliance
Resource Management GP, LLC, the managing general partner of
Alliance Resource Partners, L.P. (NASDAQ: ARLP), through which it
holds a 1.98% general partner interest and the incentive
distribution rights in ARLP. In addition, AHGP owns 31,088,338
common units of ARLP.
News, unit prices and additional information about AHGP
including filings with the Securities and Exchange Commission, are
available at http://www.ahgp.com. For more information, contact the
investor relations department of Alliance Holdings GP, L.P. at
(918) 295-1415 or via e-mail at investorrelations@ahgp.com.
Alliance Holdings GP, L.P.Alliance Resource Partners,
L.P.Brian L. Cantrell, 918-295-7673
Alliance Resource Partners (NASDAQ:ARLP)
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