Arch Resources Announces Executive Succession Plan with Richard A. Navarre as New Chair

By Bobby Samwell • Thursday, February 22 11:11 • Permanent Link

Arch Resources, Inc. (NYSE: ARCH) has announced an update to its executive succession plan, with Richard A. Navarre set to become the chair of the board of directors at the conclusion of the company's annual stockholders' meeting on May 7, 2024, succeeding John W. Eaves, who will retire at that time as the company's executive chair and as a member of the board.

Richard A. Navarre expressed his enthusiasm for the new role, stating, "I am honored that the Arch board has asked me to take on this expanded role and look forward to working with the board, Arch CEO Paul Lang, and the rest of the company’s highly capable management team to help steer the company forward at this exciting time in its development."

John W. Eaves, the outgoing executive chair, also shared his sentiments, saying, "Rick is the ideal person to assume the board chair role at this dynamic moment in global coal markets, and I am confident that – under his leadership and with the support of Paul and the rest of the board – the company is positioned to climb to even greater heights in the years ahead."

In addition to the executive changes, James N. Chapman has announced plans to retire from the Arch board at the 2024 annual meeting. Chapman remarked, "Arch is a world-class organization with a highly effective and talented leadership team. It has been my distinct honor and privilege to work with the entire organization over the past eight years to develop a world-class metallurgical coal franchise."

Furthermore, the company has elevated John Drexler to the role of president, effective immediately, and nominated him for election to the board of directors at the 2024 annual meeting. Paul Lang, Arch CEO, commented, "John D. has distinguished himself as a strong and capable leader, most recently in the role of chief operating officer and prior to that as the company’s chief financial officer. I look forward to working with John to extend and capitalize on Arch’s position as a highly efficient producer of metallurgical coal; an industry leader in the critical area of sustainability; and a supplier of choice to the world’s fastest-growing steel markets."

The full 8-K submission is available here.

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