Arch Coal, Inc. Announces Executive Succession Plan
"Today's announcement represents the culmination of a long-scheduled and carefully planned succession process," said Chapman. "Through his vision and leadership, John has built a tremendous platform for long-term value creation and growth, spearheading Arch's transformation into a premier
"It has been an honor to serve as Arch's chief executive officer over the course of the past eight years," Eaves said. "While I'm ready to pass the baton as CEO, I'm excited about the opportunity to continue to work with the board and the management team in this new capacity. At the same time, I am highly confident that Paul is the ideal person to succeed me as CEO. Paul has been an instrumental and driving force at Arch for many years, and brings to the CEO role tremendous experience and expertise in all aspects of our business. I know he will lead Arch to even greater success in the years ahead."
"I am humbled that the board has chosen me as Arch's next CEO, and I look forward to building on the strong foundation that John has established," Lang said. "I share John's conviction that Arch's long-term success will depend upon our ability to drive operational excellence throughout the organization while maintaining our steadfast commitment to industry-leading mine safety and environmental stewardship practices. Moreover, I am confident that Arch is on the right strategic course, and I'm excited about working with the entire Arch team to deliver exceptional results for our owners and other key stakeholders going forward."
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. 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
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