ST. LOUIS, May 12, 2014 /PRNewswire/ -- Peabody Energy (NYSE: BTU) announced today that it has extended the term of employment for Chairman and Chief Executive Officer Gregory H. Boyce by six months as the next phase in the company's executive succession planning process.
According to Lead Independent Director Robert A. Malone, "We are pleased to put into place this next phase of what we believe to be a model succession process. We appreciate the ongoing veteran leadership of Mr. Boyce, and look forward to the continued success of President and Chief Operating Officer Glenn Kellow following a recent significant increase in his responsibilities."
Mr. Kellow recently assumed executive responsibility for Corporate Strategy, Global Analytics and Business Development, in addition to overseeing all aspects of the company's global operations including worldwide sales and trading activities.
The new agreement with Mr. Boyce continues his term as Chairman and Chief Executive Officer through June 30, 2015, and as Executive Chairman through June 30, 2016.Peabody Energy is the world's largest private-sector coal company and a global leader in sustainable mining, energy access and clean coal solutions. For further information, visit PeabodyEnergy.com and AdvancedEnergyForLife.com. CONTACT: Vic Svec(314) 342-7768