Exciting New Chapter Begins for Macarthur Coal
An exciting new chapter has begun for Macarthur Coal with Peabody Energy Corporation’s acquisition of a controlling interest in the Company.
Julian Thornton, previously Managing Director of Peabody Energy Australia, has been appointed as Chief Executive Officer and Executive Director of Macarthur Coal.
Four other new members were appointed to the Macarthur Board of Directors and each of the following highly experienced industry leaders will advance the company’s growth and operational objectives:
- Eric Ford, Peabody Energy Executive Vice President and Chief Operating Officer, who joins the Macarthur Board as Chairman
- Michael C. Crews, Executive Vice President and Chief Financial Officer for
Peabody Energy - Paul Dowd, who joins as a Non-Executive Director. Dowd is a 40-year mining veteran who developed businesses and managed mining operations in Australia, the United States, Africa, Europe and Asia
- John M. Spark, who joins as a Non-Executive Director. Spark is a former Managing Partner of Ferrier Hodgson, a Melbourne, Australia-based turnaround, reconstruction and forensics services firm, and a former Global Partner of Arthur Andersen, based in Melbourne.
Peabody Energy has significant experience in both open cut and underground mining and proven ability in greenfield and brownfield project development – both of which will facilitate the realisation of Macarthur’s future growth potential.
Macarthur now has the opportunity to draw upon Peabody’s global financial and technical capabilities and breadth of scale in the development of its projects in Queensland’s Bowen Basin.
Peabody’s acquisition of a controlling interest in Macarthur Coal creates significant value for employees, customers and shareholders of each organisation by allowing for a larger, stronger and further diversified product offering to serve the world’s fastest-growing markets.
