WESTMORELAND COAL COMPANY (NASDAQ:WLB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 9, 2019, Westmoreland Coal Company’s board of directors (the “Board”) appointed Michael G. Hutchinson, the Company’s current Interim Chief Executive Officer and Principal Executive Officer, to also serve as the Company’s Principal Financial Officer. Mr. Hutchinson has served as the Company’s Interim Chief Executive Officer since November 2017.
Mr. Hutchinson retired from Deloitte & Touche in 2012. His career at Deloitte spanned nearly thirty-five years; leading its Energy and Natural Resources Practice for the last fifteen years, while, at the same time, managing the Audit and Enterprise Risk Management practice of the Denver office. Until 2017, Mr.Hutchinsonserved on the board of directors and was a member of the audit committee of ONEOK Partners. In June 2017, ONEOK Partners was merged into its sponsor, ONEOK Inc. Mr.Hutchinsoncurrently serves as a member of the board of directors and as the audit committee chairman of One Gas, Inc. In April 2017, Mr.Hutchinsonjoined the board of directors of CoBiz Financial Inc. and serves on its audit committee. Mr.Hutchinsonhas been on the Board since 2012, and served as the chairperson to the Audit Committee; however, since November 2017, he has acted as Interim Chief Executive Officer and, as such, no longer acts as the Company’s Audit Committee chairman. Since December 5, 2017, Mr.Hutchinsonhas been the Interim Chief Executive Officer of our affiliate Westmoreland Resources GP, LLC, general partner of Westmoreland Resource Partners, LP.
No new compensatory arrangements were entered into with Mr. Hutchinson in connection with his becoming the Company’s Principal Financial Officer. There is no arrangement or understanding between Mr. Hutchinson and any other person to which Mr. Hutchinson was selected to be Principal Financial Officer of the Company that would require disclosure under Item 401(b) of Regulation S-K. Additionally there is no family relationship between Mr. Hutchinson and any other person that would require disclosure under Item 401(d) of Regulation S-K. Mr. Hutchinson is also not a party to any transactions that would require disclosure under Item 404(a) of Regulation S-K.
About WESTMORELAND COAL COMPANY (NASDAQ:WLB)
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. Coal – Canada segment includes the operations of coal mines located in Alberta and Saskatchewan. Coal – WMLP segment includes the operations of Westmoreland Resource Partners, LP, a coal master limited partnership. Power segment includes its Roanoke Valley Power Facility (ROVA) operations located in North Carolina. Heritage segment includes the benefits the Company provides to former mining operation employees, as well as other administrative costs associated with providing those benefits and cost containment efforts. Corporate segment consists of corporate administrative expenses.
