ST.
LOUIS, March 28, 2024 /PRNewswire/ -- Peabody
(NYSE: BTU) today filed its Proxy Statement for its 2024 Annual
Meeting of Stockholders to be held on May 9,
2024, which disclosed that current members of Peabody's
Board of Directors Samantha B.
Algaze and David J. Miller
have determined that they will not stand for re-election. Algaze
and Miller joined the board in 2020 as part of an agreement with
Elliott Investment Management L.P. ("Elliott") and were
subsequently re-elected by Peabody's stockholders in 2021, 2022 and
2023. Peabody's Board will be reduced by two directors
effective at the annual meeting.
Elliott, previously Peabody's largest stockholder, has reduced
their ownership stake significantly, to below five percent.
"I want to thank Dave and Sam for their dedicated work on the
Board of Directors over the past several years, helping position
Peabody for continued success," Bob
Malone, Chairman of the Board, said.
Peabody is a leading coal producer, providing essential products
for the production of affordable, reliable energy and steel. Our
commitment to sustainability underpins everything we do and shapes
our strategy for the future. For further information, visit
peabodyenergy.com.
Contact:
Karla Kimrey
314-342-7900
Disclosure Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the securities laws. Forward-looking statements can
be identified by the fact that they do not relate strictly to
historical or current facts. They often include words or variation
of words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates," "projects," "forecasts,"
"targets," "would," "will," "should," "goal," "could" or "may" or
other similar expressions. Forward-looking statements provide
management's or the Board's current expectations or predictions of
future conditions, events or results. All statements that address
operating performance, events, or developments that may occur in
the future are forward-looking statements, including statements
regarding the shareholder return framework, execution of Peabody's
operating plans, market conditions, reclamation obligations,
financial outlook, potential acquisitions and strategic
investments, and liquidity requirements. They may include estimates
of sales and other operating performance targets, cost savings,
capital expenditures, other expense items, actions relating to
strategic initiatives, demand for the company's products,
liquidity, capital structure, market share, industry volume, other
financial items, descriptions of management's plans or objectives
for future operations and descriptions of assumptions underlying
any of the above. All forward-looking statements speak only as of
the date they are made and reflect Peabody's good faith beliefs,
assumptions and expectations, but they are not guarantees of future
performance or events. Furthermore, Peabody disclaims any
obligation to publicly update or revise any forward-looking
statement, except as required by law. By their nature,
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
suggested by the forward-looking statements. Factors that might
cause such differences include, but are not limited to, a variety
of economic, competitive, and regulatory factors, many of which are
beyond Peabody's control, that are described in
Peabody's periodic reports filed with the SEC including its Annual
Report on Form 10-K for the fiscal year ended December 31, 2023 and other factors that Peabody
may describe from time to time in other filings with the SEC. You
may get such filings for free at Peabody's website at
www.peabodyenergy.com. You should understand that it is not
possible to predict or identify all such factors and, consequently,
you should not consider any such list to be a complete set of all
potential risks or uncertainties.
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SOURCE Peabody