ST. LOUIS, March 24, 2020 /PRNewswire/ -- Arch Coal, Inc.
(NYSE: ARCH) today announced that – as part of its ongoing
succession process – John T. Drexler
will become the company's chief operating officer and Matthew C. Giljum will become its chief
financial officer, effective April 30. Drexler is currently
Arch's chief financial officer and Giljum is currently Arch's
treasurer and vice president of finance.
"John has done a tremendous job as chief financial officer
during a period of great transition for the company," said
Paul A. Lang, Arch's incoming chief
executive officer. "Under John's leadership, Arch has
conducted a highly successful capital return program and built the
industry's strongest balance sheet, while at the same time ensuring
ample funding for the build-out of our world-class growth project
at Leer South. John is a skilled leader with an exceptional
understanding of our business and operating portfolio, and I'm
confident that he will be highly successful in this pivotal new
role with the company."
"Matt is exceptionally well-equipped to succeed John as Arch's
next chief financial officer," Lang continued. "He has played
an instrumental role on the company's financial leadership team for
many years and has contributed significantly to our strong
performance and numerous achievements on that front. I am
certain he will make an even greater contribution to the company's
ongoing growth and success in this significant, new capacity."
Both Drexler and Giljum will report to Lang.
Drexler has served as Arch's senior vice president and chief
financial officer since 2008. Prior to that role, he held the
positions of vice president of finance and accounting; vice
president of accounting, reporting and planning; and director of
planning and forecasting, among others. He joined Arch in
1998 after beginning his career at EY. He is a Certified
Public Accountant and holds a B.S. degree from the University of
Missouri. In addition to his responsibilities at Arch,
Drexler serves on the board of Knight Hawk Coal Company, and is the
former board chair and current finance committee chair of The Magic
House, a nationally recognized children's museum located in
Saint Louis.
Giljum has served as Arch's vice president of finance and
treasurer since 2015. Prior to that role, he served as the
company's vice president of finance, as well as a number of other
positions of increasing responsibility in the company's finance
department. Giljum joined the company in 2002 after beginning
his career at EY. He is a Certified Public Accountant and
holds a B.S. from the University of
Missouri and an MBA from Washington
University in Saint Louis.
U.S.-based Arch Coal, Inc. is a top coal producer for the global
steel and power generation industries. Arch operates a
streamlined portfolio of large-scale, low-cost mining complexes
that produce high-quality metallurgical coals in Appalachia and
low-emitting thermal coals in the Powder River Basin and other
strategic supply regions. For more information, visit
www.archcoal.com.
Forward-Looking Statements: This press release contains
"forward-looking statements" – that is, statements related to
future, not past, events. In this context, forward-looking
statements often address our expected future business and financial
performance, and often contain words such as "should," "appears,"
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
or "will." Forward-looking statements by their nature address
matters that are, to different degrees, uncertain. For us,
particular uncertainties arise from changes in the demand for our
coal by the domestic electric generation and steel industries; from
legislation and regulations relating to the Clean Air Act and other
environmental initiatives; from competition within our industry and
with producers of competing energy sources; from our ability to
successfully acquire or develop coal reserves; from operational,
geological, permit, labor and weather-related factors; from the Tax
Cuts and Jobs Act and other tax reforms; from the effects of
foreign and domestic trade policies, actions or disputes; from
fluctuations in the amount of cash we generate from operations,
which could impact, among other things, our ability to pay
dividends or repurchase shares in accordance with our announced
capital allocation plan; from our ability to successfully integrate
the operations that we acquire; from our ability to complete the
joint venture transaction with Peabody Energy in a timely manner,
including obtaining regulatory approvals and satisfying other
closing conditions; from our ability to achieve expected synergies
from the joint venture; from our ability to successfully integrate
the operations of certain mines in the joint venture; and from
numerous other matters of national, regional and global scale,
including those of a political, economic, business, competitive or
regulatory nature, and natural disasters, pandemics and outbreaks
of contagious diseases and other adverse public health
developments, such as coronavirus disease (COVID-19). These
uncertainties may cause our actual future results to be materially
different than those expressed in our forward-looking statements.
We do not undertake to update our forward-looking statements,
whether as a result of new information, future events or otherwise,
except as may be required by law. For a description of some of the
risks and uncertainties that may affect our future results, you
should see the risk factors described from time to time in the
reports we file with the Securities and Exchange
Commission.
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SOURCE Arch Coal, Inc.