Alpha Metallurgical Resources, Inc. (NYSE: AMR) has announced the retirement of Chairman David Stetson from its board of directors, effective December 13, 2024. This comes after significant and successful tenure 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. The board also approved Gorzynski's appointment as chairman and a decrease in the board's size from seven to six members, effective December 13, 2024.
During Stetson's tenure, the company provided stable, safe, and rewarding employment, contributed resources to the communities in which it operates, served as a steward of the environment, and delivered great returns to its shareholders. Andy Eidson, Alpha's Chief Executive Officer, expressed gratitude for Stetson's more than eight years of service to the organization, highlighting his bold and effective leadership not only for the company but also for the broader coal industry.
Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations across Virginia and West Virginia. The company supplies metallurgical products to the steel industry, serving customers across the globe with high-quality reserves and significant port capacity. The market has reacted to these announcements by moving the company's shares -4.3% to a price of $224.58. For more information, read the company's full 8-K submission here.
