SunCoke Energy Reveals CEO Succession Plan

By Bobby Samwell • Friday, February 23 09:56 • Permanent Link

SunCoke Energy, Inc. Announces Executive Leadership Succession

SunCoke Energy, Inc. (NYSE: SXC) has disclosed the upcoming succession in its executive leadership, with Katherine T. Gates set to take over as the Chief Executive Officer (CEO) from Michael G. Rippey in May 2024. Here are the key points from the announcement:

Michael G. Rippey, the current CEO, intends to retire from his role and as a member of the company's board of directors on May 15, 2024.
Katherine T. Gates, the current President of the company, has been unanimously appointed by the board to succeed Mr. Rippey as CEO, effective May 15, 2024. She will also continue to serve as a member of the board.
Following his retirement, it is anticipated that Mr. Rippey will continue to serve as an advisor to the company under an advisory agreement.

Arthur F. Anton, the Chairman of the company's board, expressed gratitude for Mr. Rippey's contributions and praised his significant role in restructuring and strengthening the organization, reducing SunCoke's risk profile, and driving record earnings and profitability.

Mr. Anton also lauded Katherine Gates' promotion as the CEO, highlighting her executive experience of over a decade at SunCoke and her valuable expertise in various operational, commercial, strategic, legal, and EHS matters. He emphasized her strong leadership and execution orientation, integrity, and energy.

In his statement, Mr. Rippey expressed pride in the achievements of the company under his leadership and expressed confidence in Katherine Gates' ability to lead SunCoke's future success.

Katherine Gates expressed her gratitude for the trust and confidence placed in her by the board and conveyed her honor in serving as the CEO of SunCoke. She also acknowledged the mentorship and learning experiences gained from working with Mr. Rippey.

About SunCoke Energy, Inc. SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke to domestic and international customers. The company's process incorporates innovative heat-recovery technology and draws upon over 60 years of cokemaking experience. SunCoke's logistics business provides material handling services to various industries.

SunCoke encourages investors and interested parties to monitor and review the information posted on its website, in addition to following its press releases, SEC filings, and public conference calls and webcasts.

Today the company's shares have moved -1.3% to a price of $10.82. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.