|Walter Energy Announces Retirement of Victor Patrick|
|TAMPA, FL, Feb 22, 2010 (MARKETWIRE via COMTEX) -- Walter Energy (NYSE: WLT), a leading U.S. producer and exporter of
premium metallurgical coal for the global steel industry, announced
today that Victor P. Patrick has informed the Board of Directors that
he wishes to retire in order to spend more time with his family and
attend to other priorities. In light of his pending retirement, Mr.
Patrick has also informed the Board that he will not be seeking
re-election to the Board in April. Mr. Patrick will continue to
serve as the Chief Executive Officer, Chief Financial Officer and
General Counsel of the Company until his successors to those positions
"To be part of the team that led Walter Energy through its transformation has been the most rewarding professional experience I could have ever hoped for," said Patrick. "Now it's time for me to turn my attention to other priorities. I am grateful to the Board, our customers, our investors, and above all to my co-workers who deserve all the credit for making this the great company that it is."
"Vic did an excellent job leading Walter Energy through its transformation process and was a key part of the development of the Company's go-forward strategy," said Walter Energy Chairman Michael T. Tokarz. "We at Walter Energy appreciate Vic's commitment to his personal priorities, thank him for all he has done for the Company, and wish him well as he begins the next chapter of his life."
About Walter Energy
Walter Energy is a leading U.S. producer and exporter of premium hard coking coal for the global steel industry and also produces steam coal and industrial coal, metallurgical coke and coal bed methane gas. The Company has revenues of approximately $1.0 billion and employs approximately 2,100 people. For more information about Walter Energy, please visit the Company Web site at www.walterenergy.com.
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SOURCE: Walter Energy