Alpha Natural Resources' CFO Frank Wood to Retire; CSO Phil Cavatoni and Controller Alan Jones to Take on Expanded Roles
BRISTOL, Va., Jan. 7, 2015 /PRNewswire/ -- Alpha Natural Resources, Inc. (NYSE: ANR) announced today that Chief Financial Officer Frank Wood will retire effective February 28, 2015. At that time, Alpha's Executive Vice President and Chief Strategy Officer, Philip J. Cavatoni, will assume the additional duties of the CFO.
Wood joined Alpha Natural Resources as part of its merger with Foundation Coal in 2009. While with Foundation, Wood served as Senior Vice President and Chief Financial Officer from 2004 through the completion of the merger. He also served in the same roles for RAG American Coal Holding, Inc. from 1999 to 2004. From 1993 to 1999, Wood was Vice President and Controller at Cyprus Amax Coal Company, and from 1991 to 1993, he was Vice President of Administration at Cannelton, Inc. Mr. Wood held various accounting and financial management positions at AMAX Inc.'s coal and oil and gas subsidiaries from 1979 to 1991.
Alpha Natural Resources Chairman and CEO Kevin Crutchfield praised Wood's contributions to the company and industry. "During his time at Alpha and throughout his tremendous 35-year career in the coal sector, Frank has established himself as one of the most respected financial professionals in the business. More than that, he is an institution within this industry. We are sad to see him go, but wish him well on a retirement well earned."
Already a member of Alpha's Management Committee, Philip Cavatoni's role with the corporation will be expanded to Executive Vice President and Chief Financial and Strategy Officer. Cavatoni has been with Alpha Natural Resources since 2009. Prior to joining the company, Cavatoni held numerous positions with J.P. Morgan, beginning in 1991. He earned his B.S. from Drexel in 1986 and his MBA from the University of Chicago's Booth School of Business.
Currently serving as Senior Vice President and Controller of a key Alpha subsidiary, Alan W. Jones Jr. will join Alpha's Management Committee and be promoted to Alpha's Chief Accounting Officer and Controller. In this role, Mr. Jones will report directly to Mr. Cavatoni. Jones joined Alpha Natural Resources in 2009 from Ernst and Young, where he was a partner and spent 17 years serving primarily large public corporations in the mining, energy, utility and consumer products sectors.
"As much as we will miss Frank's contributions to this company, I am pleased that Alpha has executives of Phil's and Alan's high caliber to step in and seamlessly fill this role," Crutchfield said. To further assist a smooth transition, Wood will continue to advise the company for several months after his retirement.
About Alpha Natural Resources
Alpha Natural Resources is one of the largest and most regionally diversified coal suppliers in the United States. With affiliate mining operations in Virginia, West Virginia, Kentucky, Pennsylvania and Wyoming, Alpha supplies metallurgical coal to the steel industry and thermal coal to generate power to customers on five continents. Consistent with its Running Right process, Alpha is committed to being a leader in mine safety and an environmental steward in the communities where its affiliates operate. For more information, visit Alpha's website (www.alphanr.com).
SOURCE Alpha Natural Resources, Inc.
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