Nicholas J. DeIuliis Succeeds J. Brett Harvey as CONSOL Energy Chief Executive Officer; Harvey Becomes Executive Chairman
PITTSBURGH, May 7, 2014 /PRNewswire/ -- CONSOL Energy Inc. (NYSE: CNX) announced today that Nicholas J. DeIuliis has assumed the position of President and Chief Executive Officer. Former Chief Executive Officer, J. Brett Harvey, took the new position of Executive Chairman. In addition, Mr. DeIuliis was elected to CONSOL Energy's Board of Directors.
The previously announced changes became effective today at the company's Annual Meeting of Shareholders.
"Nick is well-prepared to lead CONSOL Energy into a very exciting chapter in our 150-year history, having already served as a critical member of the management team that skillfully steered the company through a transformative and important period of time," commented J. Brett Harvey. "Nick's vision, values and commitment to CONSOL Energy will be a strong asset to our shareholders, employees, customers and community partners moving forward."
Mr. DeIuliis, age 45, has served as President of CONSOL Energy since February 2011. He has over 23 years of experience with the company, with both the coal and E&P divisions of the business, and in that time has held positions of Chief Operating Officer and Senior Vice President of Strategic Planning. He was also President and Chief Executive Officer of CNX Gas Corporation, a New York Stock Exchange-listed company, from its creation in 2005 through 2009.
CONSOL Energy Inc. (NYSE: CNX) is a Pittsburgh-based producer of natural gas and coal. The company is one of the largest independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. CONSOL Energy deploys an organic growth strategy focused on rapidly developing its resource base of 5.7 trillion cubic feet of proved natural gas reserves, while the company's premium coal assets are sold to electricity generators and steelmakers both domestically and internationally. CONSOL Energy is a member of the Standard & Poor's 500 Equity Index and the Fortune 500. Additional information may be found at www.consolenergy.com.
Various statements in this release, including those that express a belief, expectation or intention, may be considered forward-looking statements (as defined in Section 21E of the Exchange Act) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. When we use the words "believe," "intend," "expect," "may," "should," "anticipate," "could," "estimate," "plan," "predict," "project," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release, if any, speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties relate to, among other matters, the factors discussed in the 2013 Form 10-K under "Risk Factors," as updated by any subsequent Form 10-Qs, which are on file at the Securities and Exchange Commission.
SOURCE CONSOL Energy Inc.