Arch Coal (ACI) CEO Leer to Retire, Will Be Succeeded by COO Eaves
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Arch Coal, Inc. (NYSE: ACI) today announced that its chairman and chief executive officer, Steven F. Leer, will retire as CEO effective April 26, 2012, the date of the company's annual shareholders meeting. Leer will be succeeded as CEO by John W. Eaves, who currently serves as the company's president and chief operating officer and as a member of its board of directors. Leer will remain with the company as chairman of the board of directors.
Leer was elected chief executive officer of Arch Mineral Corporation, an Arch Coal predecessor, in 1992, and became CEO of Arch Coal when it was formed in July 1997. Under Leer's leadership, Arch has grown from a regional coal company with sales volumes of around 20 million tons to the world's fourth largest coal producer with volumes exceeding 155 million tons in 2011. "It has been a privilege to work with the dedicated men and women who have made Arch such a special company," Leer said. "It has been their professionalism, hard work and commitment to excellence that has fueled Arch Coal's success over the past two decades – and it will be those same qualities that propel the company to even greater heights in the future."
John Eaves joined the corporation in 1987 after serving in various marketing-related positions at Diamond Shamrock and Natomas Coal Company. In 1997, he was elected vice president of marketing and president of Arch Coal Sales, the company's marketing subsidiary; in 2000, he was elected senior vice president of marketing; and in 2002 he was elected executive vice president and chief operating officer. He has served as president and chief operating officer of Arch Coal since 2006.
Leer was elected chief executive officer of Arch Mineral Corporation, an Arch Coal predecessor, in 1992, and became CEO of Arch Coal when it was formed in July 1997. Under Leer's leadership, Arch has grown from a regional coal company with sales volumes of around 20 million tons to the world's fourth largest coal producer with volumes exceeding 155 million tons in 2011. "It has been a privilege to work with the dedicated men and women who have made Arch such a special company," Leer said. "It has been their professionalism, hard work and commitment to excellence that has fueled Arch Coal's success over the past two decades – and it will be those same qualities that propel the company to even greater heights in the future."
John Eaves joined the corporation in 1987 after serving in various marketing-related positions at Diamond Shamrock and Natomas Coal Company. In 1997, he was elected vice president of marketing and president of Arch Coal Sales, the company's marketing subsidiary; in 2000, he was elected senior vice president of marketing; and in 2002 he was elected executive vice president and chief operating officer. He has served as president and chief operating officer of Arch Coal since 2006.
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