Corsa Coal Announces CEO Transition
Tuesday, July 9th, 2019
Corsa Coal Corp. (TSXV: CSO) (“Corsa” or the “Company”) recently announced that George G. Dethlefsen will step down from his role as Chief Executive Officer (“CEO”) of the Company and a member of the Board of Directors to pursue other opportunities effective July 12, 2019. Mr. Dethlefsen’s departure is not the result of any dispute or disagreement with the Company or any matter related to the Company’s operations, policies, management or board of directors.
The Board of Directors will appoint Mr. Peter V. Merritts, the Company’s current President of the Northern Appalachia Division as CEO and a director of the Company effective July 12, 2019. Mr. Merritts has been responsible for Corsa’s metallurgical coal operations in Pennsylvania and Maryland since February 2015 and has over 40 years of experience in the coal industry, including as the President of the Pennsylvania-based AMFIRE Mining Company, a former subsidiary of Alpha Natural Resources, and leadership positions at Mapco Coal, Inc. (now Alliance Resource Partners, LP) and Bethlehem Steel Corporation.
“On behalf of the Board of Directors, I would like to thank George for his contributions to Corsa, in particular for the role he played in guiding the Company as Chief Executive Officer over the last five years. We wish him all the best in the future,” stated Mr. Robert C. Sturdivant, Chairman of the Board of Directors. “The Board of Directors will be working closely with Mr. Merritts and the senior management team during the transition period, while the Company continues to focus on increasing shareholder value through improved operational, financial and other strategic opportunities.”
In connection with the annual and special meeting of shareholders of the Company scheduled to be held on August 13, 2019, Mr. Dethlefsen will no longer stand for election and the Board of Directors has therefore set its size at six for the purposes of such election. It is expected that only the remaining six nominees set forth in the Company’s management information circular dated June 18, 2019 will stand for election at the meeting and that Mr. Merritts will be re-appointed as a director of the Company immediately following the meeting.http://www.corsacoal.com