Westmoreland Coal Company (NasdaqGM:WLB) announced today that Keith E.
Alessi, 61, Chief Executive Officer, has announced his intent to retire
effective December 31, 2015. Mr. Alessi will remain an employee of the
company as CEO Emeritus. He will be responsible for providing strategic
support to both the Board of Directors and management, as well as
maintaining key relationships and evaluating business development
The Board of Directors has named Kevin A. Paprzycki, the company’s Chief
Financial Officer, as Chief Executive Officer effective as of January 1,
2016. It is intended that Mr. Paprzycki will also be elected to serve on
the Board of Directors concurrent with the transition.
“We have come through a period of numerous acquisitions and built a
solid base business for the future,” observed Mr. Alessi. “It is now
time to further integrate and assimilate these new properties and to
onboard the San Juan mine. We have a great team in place, now led by
Kevin, to accomplish these tasks. Kevin has worked closely with me these
past nine years and has had a hand in every major strategic and
financial decision. He is uniquely qualified to continue building upon
our strong foundation.”
The company announced two additional promotions within the executive
John Schadan has been promoted to President and Chief Operating Officer
to oversee global operations for the company. Jason Veenstra, who also
joined Westmoreland in April 2014 as part of the Canadian
acquisition, has been promoted to Chief Financial Officer. Both
promotions will be effective as of January 1, 2016.
“Both John and Jason have played key roles in driving results in Canada
and, with their expanded responsibilities, will help Kevin drive future
performance and growth,” said Alessi. “I look forward to continuing to
work with the team to build the business.”
Mr. Paprzycki joined Westmoreland as Controller and Principal Accounting
Officer in June 2006 and was named Chief Financial Officer in April
2008. Previously, he served as Chief Financial Officer of Evans and
Sutherland Computer Corporation and held senior level positions at
Applied Films Corporation, Baker Hughes and Ernst and Young. Mr.
Paprzycki holds a Bachelor of Science in Accountancy from Case Western
Reserve University and a MBA from the University of Utah.
Mr. Schadan joined Westmoreland in April 2014 as Senior Vice President,
Canada Operations, was promoted to Executive Vice President in August
2014 and President – Canada in March 2015. His career has encompassed
both the western Canadian coal business as well as engineering and
construction for a major international firm. Mr. Schadan holds a degree
in mining engineering from Queen’s University.
Mr. Veenstra joined Westmoreland in April 2014 as CFO – Canada. At
Sherritt International, he held roles which included Director of
Business Development and Chief Financial Officer for the coal division.
Mr. Veenstra holds a Bachelor of Commerce degree with a major in
Accounting from the University of Alberta and articled at Ernst & Young
to complete his Chartered Accountant designation.
About Westmoreland Coal Company
Westmoreland Coal Company is the oldest independent coal company in the
United States. Westmoreland’s coal operations include sub-bituminous and
lignite surface coal mining in the Western United States and Canada, an
underground bituminous coal mine in Ohio, a char production facility,
and a 50% interest in an activated carbon plant. Westmoreland also owns
the general partner of and a majority interest in Westmoreland Resource
Partners, LP, formerly Oxford Resource Partners, LP, a publicly-traded
coal master limited partnership. Its power operations include ownership
of the two-unit ROVA coal-fired power plant in North Carolina. For more
information, visit www.westmoreland.com;
provided that no information contained at such website is incorporated
by reference here.
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