Patriot Coal (PCX) CEO Whiting Leaving Co.; Chairman Engelhardt to Assume Role

May 29, 2012 6:25 AM EDT
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Patriot Coal Corporation (NYSE: PCX), announced a new executive leadership team to improve its operating and financial structure.

The following appointments by the Patriot Board of Directors are effective immediately:
  • Irl F. Engelhardt has been named Chief Executive Officer. He succeeds Richard M. Whiting, who is leaving Patriot after serving as President and CEO since 2007. As CEO, Engelhardt will have overall responsibility for the Company and will focus on corporate strategy, financing activities, corporate development and optimization of the Company's asset portfolio. Engelhardt will also continue to serve as Chairman of Patriot's Board of Directors.

  • Bennett K. Hatfield has been named President and will continue to serve as Chief Operating Officer of Patriot. He will be responsible for overseeing the execution of Patriot's operations, sales and marketing plans. To help ensure that Patriot's operations anticipate and respond effectively to changing market conditions, the Company's marketing teams will now report directly to Hatfield.

  • Michael M. Scharf has been named Lead Independent Director of the Patriot Board. He has been a member of the Board since 2007 and currently chairs Patriot's Nominating & Governance Committee.

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