UK Coal boss Jon Lloyd to leave
UK COAL chief executive Jon Lloyd will leave the company as Britain's biggest coal miner restructures its board and splits the responsibility for its coal and property operations.
The company's losses widened in 2009 given production problems at its underground mines and lower prices it got for its coal under legacy sales contracts.
It said yesterday that the planned transition of its deep mine business has now been achieved and that the legacy contracts, which have constrained UK Coal over many years, will be substantially completed in 2011.
The group plans to appoint an executive chairman, who would be accountable for the managing directors of the two businesses, rather than being led by a non-executive chairman and chief executive. Current chairman David Jones will also leave the group.
Both divisional MDs will sit on the board of UK Coal.
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Tuesday 14 February 2012
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