x

Posted 08 November, 2023

Alpha Metallurgical Resources, Inc. appointed new CEO

CEO Change detected for ticker NYSE:AMR in a 8-K filed on 08 November, 2023.


  As previously reported, on November 18, 2022, Mr. Stetson and the Company entered into an agreement (the "Transition Agreement") pursuant to which Mr. Stetson resigned as the Company's chief executive officer as of the end of the day on December 31, 2022 and became the executive chair of the board on January 1, 2023.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of Alpha Metallurgical Resources, Inc.
Basic Materials/Resources • Mining Support Services
Alpha Metallurgical Resources, Inc. is a mining company. It engages in the provision of met and thermal coal. The firm operates through the following business segments: Met, CAPP-Thermal, and All Other. The Met segment consists of met coal mines, including Deep Mine 41, Road Fork 52, Black Eagle, and Lynn Branch. The CAPP-Thermal segment consists of underground thermal coal mine. The All Other segment includes general corporate overhead and corporate assets and liabilities, elimination of intersegment activity, and discontinued operations. The company was founded on June 26, 2016 and is headquartered in Bristol, TN.
Market Cap
$4.90B
View Company Details
Alpha Metallurgical Resources, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


As previously reported, on November 18, 2022, Mr. Stetson and the Company entered into an agreement (the "Transition Agreement") pursuant to which Mr. Stetson resigned as the Company's chief executive officer as of the end of the day on December 31, 2022 and became the executive chair of the board on January 1, 2023. The Transition Agreement further provides that (a) Mr. Stetson will serve as executive chair until the end of the day on December 31, 2023, at which time his status as an employee of the Company is to terminate, and (b) on January 1, 2024, Mr. Stetson is to become non-executive chair of the board and will serve in that capacity until April 30, 2024.


On November 8, 2023, pursuant to the terms of the Transition Agreement, the company's board of directors removed Mr. Stetson from the role of executive chair of the board, effective as of the end of the day on December 31, 2023, and it appointed him as non-executive chair of the board effective as of January 1, 2024.


The Transition Agreement provides that long term equity-based incentive awards previously granted to Mr. Stetson are eligible for pro-rated vesting, based upon his time in service during the pendency of these awards, should his employment terminate prior to the full vesting of these awards. On November 8, 2023, in connection with the board's appointing Mr. Stetson as non-executive chair of the board, the compensation committee of the board determined, pursuant to its authority to administer the Company's long term incentive programs, that, upon the completion of Mr. Stetson's service as executive chair as of the end of the day on December 31, 2023, the pro-rata vesting of his outstanding incentive awards shall be calculated as if his separation date were instead December 31, 2024.


Upon becoming non-executive chair, Mr. Stetson's compensation will be determined according to the Company's Non-Employee Director Compensation Policy, as amended from time to time.