ST. LOUIS - Arch Resources, Inc. (NYSE:ARCH), a major producer of metallurgical coal, revealed today that Richard A. Navarre is set to become the new chair of its board of directors following the company's annual stockholders' meeting on May 7, 2024. He will be succeeding John W. Eaves, who will retire from his role as executive chair and board member.
Navarre, who has been chosen to guide the company through a period of evolution in the global coal markets, expressed his readiness to work with the management team and gratitude towards Eaves for his significant contributions to Arch's growth. Eaves has spent 37 years at Arch, including stints as CEO and executive chair, and he praised Navarre as the ideal successor to lead the board.
The company also announced the retirement of James N. Chapman from the board at the upcoming annual meeting. Chapman, who served as board chair and lead independent director, was recognized for his guidance and contributions during his tenure.
In a strategic move to strengthen its leadership, Arch promoted John Drexler to the role of president, effective immediately. Drexler, who will also join the board at the May meeting, has been with Arch since 1998 and has previously held roles as chief operating officer and chief financial officer. CEO Paul Lang highlighted Drexler's leadership capabilities and his role in positioning Arch as a key player in sustainability and the metallurgical coal industry.
Navarre brings a wealth of experience to his new position, having served on the boards of Civeo (NYSE:CVEO) Corporation and Natural Resource Partners, and as chairman and CEO of Covia Corporation. His past roles include president and chief commercial officer, as well as CFO at Peabody Energy Corporation.
Arch Resources is recognized for its high-quality metallurgical products, modern and efficient mining operations, and commitment to mine safety and environmental stewardship. The company's leadership changes are part of its long-term succession planning, aiming to enhance shareholder value and maintain its leadership in the steel industry.
This news article is based on a press release statement from Arch Resources, Inc.
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