BRISTOL, Tenn., Nov. 20, 2020 /PRNewswire/ -- Contura Energy,
Inc. (NYSE: CTRA), a leading U.S. supplier of metallurgical
products for the steel-making industry, today announced changes to
its board of directors.
John E. Lushefski, Daniel J. Geiger, and Emily S. Medine have resigned from the Contura
board of directors effective immediately. Each of the three members
decided not to stand for reelection at the Company's 2021 annual
shareholder meeting and believed that it was in the Company's best
interest to resign effective immediately to facilitate the search
for new directors. None of the resignations was the result of any
disagreement with the company.
Under the resigning directors' helm, Contura completed its exit
from the Powder River Basin, achieved the lowest mining costs in
Contura's history, and executed a purchase agreement to divest of
the Cumberland mine, which, if it
closes, will virtually complete the Company's exit from the thermal
coal market, leaving Contura as essentially an exclusively
metallurgical producer.
The Company thanks the resigning directors, as well as the
remaining directors, for their dedication and leadership during
their tenure, which has seen the Company achieve many of its
strategic goals during a time of unusual events and market
conditions.
"I want to thank each of the outgoing directors for their
service at Contura, and we know that they will do quite well in all
of their future endeavors. These directors have overseen the
strategic direction of the Company in its transition to a
met-focused producer positioned to weather the uncertain markets we
now face," said David Stetson,
chairman and chief executive officer of Contura. "We are grateful
for their service."
The Company is continuing its search for qualified individuals
to serve on its board of directors and will make further
announcements when new directors are appointed.
ABOUT CONTURA ENERGY
Contura Energy (NYSE: CTRA) is a Tennessee-based coal supplier with affiliate
mining operations across major coal basins in Pennsylvania, Virginia and West
Virginia. With customers across the globe, high-quality
reserves and significant port capacity, Contura Energy reliably
supplies metallurgical coal to produce steel. For more information,
visit www.conturaenergy.com.
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking
statements. These forward-looking statements are based on
Contura's expectations and beliefs concerning future events and
involve risks and uncertainties that may cause actual results to
differ materially from current expectations. These factors are
difficult to predict accurately and may be beyond Contura's
control. Forward-looking statements in this news release or
elsewhere speak only as of the date made. New uncertainties
and risks arise from time to time, and it is impossible for Contura
to predict these events or how they may affect Contura. Except
as required by law, Contura has no duty to, and does not intend to,
update or revise the forward-looking statements in this news
release or elsewhere after the date this release is issued. In
light of these risks and uncertainties, investors should keep in
mind that results, events or developments discussed in any
forward-looking statement made in this news release may not
occur.
INVESTOR
CONTACT
investorrelations@conturaenergy.com
Alex Rotonen, CFA
423.956.6882
MEDIA CONTACT
corporatecommunications@conturaenergy.com
Emily O'Quinn
423.573.0369
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SOURCE Contura Energy, Inc.