CNX » Topics » CONSOL Energy and CNX Gas Announce Management Consolidation

This excerpt taken from the CNX 8-K filed Jan 20, 2009.

CONSOL Energy and CNX Gas Announce Management Consolidation

PITTSBURGH (January 20, 2009)—CONSOL Energy Inc. (NYSE:CNX) and its majority-owned subsidiary, CNX Gas Corporation (NYSE:CXG) have made managerial changes affecting CONSOL Energy and CNX Gas, all effective January 16, 2009.

The goal of the management consolidation is to improve performance and profitability of both companies as well as to increase efficiency and reduce costs across all business areas, by creating a more unified organizational structure that will have functional, operational, and financial responsibility for all coal, gas, and related assets, while still recognizing the separate status of CNX Gas as a public company with shareholders in addition to CONSOL Energy.

J. Brett Harvey, President and Chief Executive Officer—CONSOL Energy Inc. has been appointed to the additional position of Chairman and Chief Executive Officer—CNX Gas Corporation.

Peter B. Lilly, President – Coal, will retire, following a career in the coal industry of nearly 40 years, during which Mr. Lilly served his country, the coal industry and CONSOL Energy with distinction. While at CONSOL Energy, he successfully negotiated a new National Bituminous Coal Wage Agreement between the Bituminous Coal Operators Association and the United Mine Workers of America, completed the integration of the former AMVEST mining operations into CONSOL, and was a senior spokesman for the company in the articulation of company views on energy and environmental policy. He served as the company’s representative on the boards of directors of the U.S. Chamber of Commerce, Waterways Council, Inc., and the World Coal Institute.

Nicholas J. DeIuliis has been appointed Executive Vice President and Chief Operating Officer for CONSOL Energy. He also will serve as President and Chief Operating Officer of CNX Gas Company. DeIuliis will have overall responsibility for energy production (coal and gas), focusing particularly on production efficiency and production coordination between coal and gas.

Robert F. Pusateri has been appointed Executive Vice President—Energy Sales and Transportation Services for both companies. He will continue to serve as President of CONSOL Energy Sales Company. Pusateri will have overall responsibility for sales of coal and gas, as well as transportation services and the management of CO2 credits generated by the two companies.


William J. Lyons remains Executive Vice President and Chief Financial Officer. He will have responsibility for the essential financial functions of the CONSOL Energy and CNX Gas.

P. Jerome Richey has been appointed Executive Vice President—Corporate Affairs and Chief Legal Officer for both companies and also will serve as Secretary to each company.

Robert P. King has been appointed Executive Vice President—Business Advancement and Support Services for both companies. He will be responsible for identifying and developing new business opportunities as well as managing critical, non-financial support services for both companies.

###

CONSOL Energy Inc., a high-Btu bituminous coal and coal bed methane company, is a member of the Standard & Poor’s 500 Equity Index and has annual revenues of $3.7 billion. CNX Gas is the leading E&P Company in the Appalachian Basin. CONSOL has 17 bituminous coal mining complexes in six states and reports proven and probable coal reserves of 4.5 billion tons. CONSOL Energy was named one of America’s most admired companies in 2005 by Fortune magazine. It received the U.S. Department of the Interior’s Office of Surface Mining National Award for Excellence in Surface Mining for the company’s innovative reclamation practices in 2002, 2003 and 2004. Also in 2003, the company was listed in Information Week magazine’s “Information Week 500” list for its information technology operations. In 2002, the company received a U.S. Environmental Protection Agency Climate Protection Award. Additional information about the company can be found at its web site: www.consolenergy.com.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki