Dec. 4, 2010
Controversial Blankenship Stepping Down
By Huntingtonnews.net Staff
Richmond, VA (HNN) - The Board of Directors of Massey Energy Company (NYSE: MEE) today announced that its Chairman and Chief Executive Officer, Mr. Don Blankenship, will retire from the company effective December 30, 2010. Mr. Blankenship has led Massey Energy as Chairman and CEO since 2000, and he's been with the company since 1982.
During the last years, though, Blankenship has been the focus of controversy. He and the company have been associated with contributing large amounts of money to W.Va. Supreme Court of Appeals candidates as well as the Upper Big Branch disaster , April 5, 2010. The case which involved contributions eventually was heard by the United States Supreme Court.
Baxter F. Phillips Jr., President of Massey Energy, will succeed Mr. Blankenship as Chief Executive Officer. Mr. Phillips has been with Massey Energy since 1981. Admiral Bobby Inman, Lead Independent Director on the Massey Board, will succeed Mr. Blankenship as Non-Executive Chairman. He has been a Director since 1985.
In a statement, Mr. Blankenship said: "After almost three decades at Massey it is time for me to move on. Baxter and I have worked together for 28 years and he will provide the company great executive leadership. Most of all, I want to thank the Members of Massey Energy whose hard work supports not only their own families, but also contributes greatly to the entire community of Central Appalachia."
Mr. Phillips said: "I want to thank Don for all he has done to build Massey Energy. I also want to thank the Board for giving me the opportunity to succeed him as CEO. This is a strong and successful coal company, and I will work hard to match and surpass its record of success."
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Controversial Blankenship Stepping Down
By Huntingtonnews.net Staff
Richmond, VA (HNN) - The Board of Directors of Massey Energy Company (NYSE: MEE) today announced that its Chairman and Chief Executive Officer, Mr. Don Blankenship, will retire from the company effective December 30, 2010. Mr. Blankenship has led Massey Energy as Chairman and CEO since 2000, and he's been with the company since 1982.
During the last years, though, Blankenship has been the focus of controversy. He and the company have been associated with contributing large amounts of money to W.Va. Supreme Court of Appeals candidates as well as the Upper Big Branch disaster , April 5, 2010. The case which involved contributions eventually was heard by the United States Supreme Court.
Baxter F. Phillips Jr., President of Massey Energy, will succeed Mr. Blankenship as Chief Executive Officer. Mr. Phillips has been with Massey Energy since 1981. Admiral Bobby Inman, Lead Independent Director on the Massey Board, will succeed Mr. Blankenship as Non-Executive Chairman. He has been a Director since 1985.
In a statement, Mr. Blankenship said: "After almost three decades at Massey it is time for me to move on. Baxter and I have worked together for 28 years and he will provide the company great executive leadership. Most of all, I want to thank the Members of Massey Energy whose hard work supports not only their own families, but also contributes greatly to the entire community of Central Appalachia."
Mr. Phillips said: "I want to thank Don for all he has done to build Massey Energy. I also want to thank the Board for giving me the opportunity to succeed him as CEO. This is a strong and successful coal company, and I will work hard to match and surpass its record of success."
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