Andrew Slentz, SVP of global human resources since 2010, has been promoted to executive vice president and chief human resources officer, reporting directly to CEO Gregory Boyce. Slentz will be responsible for organizational and employee benefits and compensation and facilities management.
SVP and chief information officer Lina Yong will now report to executive vice president and CFO Michael Crews, but will continue to direct the IT unit.
Meanwhile, several organization changes will be undergone, including reorganizing sales and marketing, trading, business development and strategy functions into two groups - global marketing and trading, and global development and strategy. Both groups will report to president and chief operating officer Glenn Kellow.
"This new structure enables our business units to focus even more intensely on safety, productivity, cost containment and operational excellence," said Boyce in a statement. "At the same time, we are committing dedicated groups to deliver integrated global customer solutions, portfolio optimization and growth initiatives."
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TheStreet Ratings team rates PEABODY ENERGY CORP as a Sell with a ratings score of D+. The team has this to say about their recommendation:
"We rate PEABODY ENERGY CORP (BTU) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself."