Erik Ludtke Joins Peabody Energy as President - Sales, Marketing and Trading

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Feb 07, 2011, 09:00 ET

ST. LOUIS, Feb. 7, 2011 /PRNewswire/ -- Peabody Energy announced today that Erik L. Ludtke has been named President – Sales, Marketing and Trading. He will be responsible for Peabody's global sales, trading, brokerage and marketing activities as the company serves customers in more than 25 countries. Ludtke will have responsibility for all aspects of the company's global revenues including customer relationships, contract management, product optimization and trading activities.

Ludtke will report to Richard A. Navarre, Peabody Energy President and Chief Commercial Officer and will be based in St. Louis. Reporting to Ludtke are Bryan Galli, President of Peabody COALSALES, who continues to drive sales and revenue growth from the company's global production base; Paul Demzik, President of Peabody COALTRADE, who continues to lead the company's global trading and brokerage activities spanning six continents; and Chris Hagedorn, Senior Vice President of Global Sales and Trading Support, who continues to lead marketing analytics and contract management.

"As Peabody continues to expand its global presence, we are fortunate to have a leader of Erik's caliber and background join our team," said Gregory H. Boyce, Peabody Chairman and Chief Executive Officer. "Erik brings nearly a quarter century of energy sales, trading, planning and transportation experience in the United States, Europe, Asia, South America and the Middle East. He will play an essential role in increasing our sales and building on our global leadership position."

Ludtke has extensive global experience and has resided in Europe, Asia, South America and the Middle East. Most recently, he led U.S. and Argentina oil and gas marketing and trading activities for Apache Corporation, a multi-national oil and gas exploration and production company. He previously served in multiple positions with integrated global gas producer BG-Group, including project development in the Middle East and power marketing in India.

Ludtke also held a variety of executive positions at Duke Energy, directing European mergers and acquisitions; overseeing Latin American energy trading, marketing and power generation activities; and leading commercial risk management. He earlier led development of a fuel trading group for U.S. and Canadian power projects for Sithe Energies, one of the most successful independent power producers in the world, and also has held a variety of marketing and trading positions in the global oil and gas industry during his career.

Ludtke holds a Bachelor of Science degree in economics from Texas A&M University and graduated from Executive Development and International Forum programs at the Wharton School of Management at the University of Pennsylvania.

Peabody Energy (NYSE: BTU) is the world's largest private-sector coal company and a global leader in clean coal solutions. With 2010 sales of 246 million tons and nearly $7 billion in revenues, Peabody fuels 10 percent of U.S. power and 2 percent of worldwide electricity.