Lead Independent Director Gorzynski to Assume Chairman
Role
BRISTOL,
Tenn., Dec. 6, 2024 /PRNewswire/ -- Alpha
Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier
of metallurgical products for the steel industry, today announced
the retirement of chairman David
Stetson from its board of directors, effective December 13, 2024. Stetson's departure, which is
not a result of any disagreement with the company, comes after his
significant and successful tenure with Alpha during which the
company paid off its long-term debt and posted record revenue
generation.
Concurrent with Stetson's departure, lead independent director
Michael Gorzynski will assume the
role of chairman of the board. Earlier today, Alpha's board
approved Gorzynski's appointment as chairman, as well as a decrease
in the board's size from seven to six members, effective
December 13, 2024.
"It is hard to articulate the immense contributions David has
made to this company and the lasting legacy he leaves at Alpha,"
said Michael Gorzynski, Alpha's lead
independent director. "His visionary leadership set the company on
a transformative path to improved financial strength and the
potential for continued long-term, industry-leading success. We
will miss David as a member of our board, and we cannot thank him
enough for all he has done for the company and its people. I am
honored to take over the board chairmanship from David and continue
working with Andy and our exceptional management team in this new
capacity."
"There is no greater honor than to be part of an executive team
whose accomplishments have positively impacted all of its
stakeholders," said David Stetson.
"Over my tenure at Alpha, the company has provided stable, safe and
rewarding employment, contributed resources and improved lives in
the communities in which it operates, has been a steward of the
environment, served as a reliable and high-quality source of
products for its customers, and delivered great returns to its
shareholders. As I have repeatedly noted in my public comments, the
Alpha leadership team is the best in class, and I am confident that
the accomplishments to date will pale in comparison to where they
lead Alpha in the future."
Andy Eidson, Alpha's chief
executive officer, commented: "On behalf of the executive team and
all Alpha employees, I want to thank David for his more than eight
years of service to this organization. There is not adequate room
to list David's many accomplishments, but he provided bold and
effective leadership not only for our company, but also for the
broader coal industry. He was instrumental in establishing the
Metallurgical Coal Producers Association, an organization devoted
to advocacy around metallurgical coal and its benefits, which has
grown significantly since its inception. And at Alpha, David shared
insight and advice, both while he served as our chief executive and
as a guiding voice on the board. He provided invaluable mentorship
to me as I took the reins as CEO a couple years ago, and I consider
him a trusted friend. While we will miss him greatly, we are
grateful for his loyal service to Alpha over these many years.
Looking forward, I have the highest level of confidence in the
leadership of Mike Gorzynski, and I
welcome the opportunity to work with him as he takes over as board
chairman."
About Alpha Metallurgical Resources
Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations
across Virginia and West Virginia. With customers across the
globe, high-quality reserves and significant port capacity, Alpha
reliably supplies metallurgical products to the steel industry. For
more information, visit www.AlphaMetResources.com.
Forward-Looking Statements
This news release includes forward-looking statements. These
forward-looking statements are based on Alpha'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 Alpha'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 Alpha to predict these events or how they may
affect Alpha. Except as required by law, Alpha 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 & MEDIA CONTACT: EMILY O'QUINN
InvestorRelations@AlphaMetResources.com
CorporateCommunications@AlphaMetResources.com
(423) 573-0369
View original content to download
multimedia:https://www.prnewswire.com/news-releases/alphas-chairman-stetson-announces-planned-departure-302325207.html
SOURCE ALPHA METALLURGICAL RESOURCES, INC.