WESTMORELAND RESOURCE PARTNERS, LP (NYSE:WMLP) 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.
Departures of Certain Officers and Directors
On August 2, 2017, Kevin Paprzycki provided notice of his resignation from his directorship and position as Chairman of the Board of Directors of Westmoreland Resources GP, LLC (the “Company”), general partner of Westmoreland Resource Partners, LP (the "Partnership"), effective immediately. His resignation was not due to any dispute or disagreement with the Company on any matter relating to the Partnership’s operations, policies or practices. Mr. Paprzycki will remain as Chief Executive Officer of the Company.
On August 2, 2017, Jennifer Grafton provided notice of her resignation from her directorship on the Board of Directors of the Company, general partner of the Partnership, effective immediately. Her resignation was not due to any dispute or disagreement with the Partnership on any matter relating to the Partnership’s operations, policies or practices. At the same time, Ms. Grafton, who is also a named executive officer of the Company, notified the Company of her resignation from her position as Chief Legal Officer effective immediately.
The resignations of Mr. Paprzycki and Ms. Grafton described herein have been effected as part of an internal reporting realignment between the Company and Westmoreland Coal Company as the Company and the Partnership explore alternatives with respect to the 2018 maturity of the term loan under the Financing Agreement, dated as of December 31, 2014, by and among Oxford Mining Company, LLC, Westmoreland Resource Partners, LP and each of its subsidiaries, the lenders party thereto and U.S. Bank National Association, as Collateral Agent.
Separately, on July 28, 2017, Michael Meyer resigned from his position as Controller and Principal Accounting Officer of the Company effective on such date. Mr. Meyer's resignation was the result of Westmoreland's consolidated accounting centralization effort that required the position to maintain an office in Englewood, Colorado.
Appointment of Principal Accounting Officer
On July 28, 2017 the Company appointed Scott Henry as Controller and Principal Accounting Officer. Mr. Henry, 43, is currently the Senior Director of Accounting at Westmoreland Coal Company and has been in that role since November of 2016. He will continue to serve Westmoreland Coal Company in that role while taking over the Company's principal accounting officer responsibilities from the Englewood, Colorado, office.
Prior to joining Westmoreland Coal Company, Mr. Henry served as Vice President of Finance for Right Start, formerly a wholly-owned subsidiary of Liberty Interactive Corp., for seven years. Mr. Henry has also held senior leadership positions within DIRECTV and KB Home after beginning his career as a financial auditor with PricewaterhouseCoopers. Mr. Henry is a Certified Public Accountant and holds a Master of Accounting and a Bachelor of Science in Accountancy from the University of Denver. There are no agreements, arrangements, relationships or transactions between the Partnership and Mr. Henry required to be disclosed under Items 401 or 404(a) of Regulation S-K.
About WESTMORELAND RESOURCE PARTNERS, LP (NYSE:WMLP)
Westmoreland Resource Partners, LP, formerly Oxford Resource Partners, LP, is a producer and marketer of thermal coal to the United States utilities and industrial users, and a producer of surface mined coal in Ohio. The Company markets coal to electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. Its reserves and operations serve its market area of the Midwest, Northeast and Rocky Mountain regions of the United States. The Company operates approximately 20 active surface mines and manages these mines as mining complexes located in eastern Ohio and Wyoming. The Company’s Ohio mining facilities include approximately two preparation plants, both of which receive, wash, blend, process and ship coal produced from its mines. The Company’s operating subsidiaries include Oxford Mining Company, LLC, Oxford Mining Company-Kentucky, LLC, Westmoreland Kemmerer, LLC, Westmoreland Kemmerer Fee Coal Holdings, LLC and Harrison Resources, LLC.