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 OfficersItem 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 19, 2017, Westmoreland Coal Company (the “Company”) issued a press release announcing the departure of John Schadan as President and Chief Operating Officer and the appointment of Joseph Micheletti as Chief Operating Officer.
Effective October 19, 2017, the board of directors (the “Board”) of the Company appointed Joseph Micheletti, who has been serving as Executive Vice President and Chief Technical Officer, as Chief Operating Officer. Mr. Micheletti, 52, joined Westmoreland in 1998 and has progressively held key leadership positions at Westmoreland including Jewett Mine General Manager and President, Senior Vice President of Coal Operations, and Executive Vice President and Chief Technical Officer. Mr. Micheletti has worked in the production, maintenance, processing, and engineering disciplines of the mining industry for 30 years. He holds a Bachelor of Science degree in Mineral Processing Engineering from Montana College of Mineral Science and Technology. As COO, the Board set Mr. Micheletti’s base salary at $370,000 with no other change to compensation amount or structure at this time. There are no agreements, arrangements, relationships or transactions between the Company and Mr. Micheletti required to be disclosed under Items 401 or 404(a) of Regulation S-K. A copy of the press release announcing Mr. Micheletti's appointment is attached hereto as Exhibit 99.1.
Also effective October 19, 2017, as part of the management restructuring, the Board also added the title of President to Mr. Kevin A. Paprzycki, the Company’s Chief Executive Officer, however there is no change to his day-to-day duties, responsibilities or his compensation.
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Item 7.01. |
Regulation FD Disclosure. |
On October 19, 2017, the Company published a press release related to the management changes more specifically described above in Item 5.02, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The press release contained in Exhibit 99.1 is also posted on the Company's website at www.westmoreland.com.
The information in Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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Exhibit No. |
Description |
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99.1 |
Westmoreland Coal Company Press Release dated October 19, 2017 |
WESTMORELAND COAL Co ExhibitEX-99.1 2 westmorelandannouncesinter.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1 News Release Westmoreland Promotes Joseph E. Micheletti to Chief Operating Officer; Appoints Jeffrey S. Stein as Chief Investment Officer;Forms Board-Level Operations CommitteeEnglewood,…To view the full exhibit click here
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.
