- Push-out Score determined
- After about six and a half years in the position
- Praise and thanks for Kellow
- Search for a successor
- Kellow kept it short and said 57 words
(exechange) — St. Louis, Missouri, March 18, 2021 — Glenn Kellow, chief executive of Peabody, leaves. As announced by Peabody Energy Corp. in a news release and in a regulatory filing published on Thursday, March 18, 2021, Glenn L. Kellow, chief executive officer, leaves the nation’s largest coal producer after about six and a half years in the role, effective August 31, 2021.
Peabody will undertake a search for a successor.
No reason given
In the announcement, Peabody did not explicitly explain the reason for Glenn Kellow’s move, leaving room for speculation.
Precise information regarding Glenn Kellow’s future plans was not immediately available.
Peabody said: “Today, the Peabody Board of Directors announced that the company and Glenn Kellow, President and CEO, have entered into a leadership transition agreement as part of its succession planning process. Under this agreement, Mr. Kellow will be leaving the company by Aug. 31, 2021.”
Share price decline since March 2018
The announcement follows a decline in Peabody Energy Corp.’s share price of 91% since March 2018.
Chaired by Bob Malone
Bob Malone serves as Peabody Energy Corp.’s Chairman.
Bob Malone currently serves as Non-Executive Chairman of the Board of Peabody Energy Corporation, a position he was appointed to in 2016 following the Company’s emergence from bankruptcy. He joined the pre-bankruptcy board in July 2009.
In the position of CEO since 2015
Glenn Kellow became CEO of the Company in 2015.
Glenn L. Kellow was named Peabody President and Chief Operating Officer in August 2013, President, Chief Executive Officer-elect and a director in January 2015, and President and Chief Executive Officer in May 2015.
Kellow has a career that gives insights from the miner, competitor fuel and industrial customer perspectives.
From 1985 to 2013, he worked for BHP Ltd. in the United States, Australia and South America.
Kellow has held chief executive leadership, operating or financial roles in global business in coal, copper, nickel, aluminum, steel, oil and gas.
He is Chairman of the World Coal Association, a director and executive committee member of the U.S. National Mining Association, and the Vice Chairman of the International Energy Agency Coal Industry Advisory Board.
Kellow is a graduate of the Advanced Management Program at the University of Pennsylvania’s Wharton School of Business and holds a Master of Business Administration and a Bachelor’s Degree in Commerce from the University of Newcastle.
He holds an Honorary Doctor of Science from the South Dakota School of Mines and Technology.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Glenn Kellow’s move on a scale of 0 to 10.
exechange reached out to Peabody and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 12.2021 ($).