Quillen, 63, who formed Alpha in 2002 and steered the Virginia-based company through more than a dozen acquisitions as well as a 2005 initial public offering, has opted not to stand for re-election at the company’s May 17 annual stockholder meeting but will remain in his position until that time.
The executive has served as Alpha chairman since 2006, taking the post two years after his 2004 board appointment.
Alpha’s board selected CEO Kevin Crutchfield to replace Quillen as board chairman, effective immediately after the meeting.
Seven-year board member Glenn Eisenberg will continue as a lead independent director.
“As Alpha's founder I will always have strong and emotional ties to the company and especially to the miners and all other employees that have made Alpha such a success,” Quillen said.Â
“Together with the rest of the board of directors, I have full confidence in Kevin and the management team, the actions they have taken to strengthen and grow Alpha and the strategy they have charted for Alpha's future.”
Crutchfield said Quillen’s legacy would endure.
“In ten years Alpha has gone from a concept on a piece of paper to a global leader in the coal industry, thanks to Mike's vision, leadership and caring for people,” he said.
“I’m particularly pleased that Mike has agreed to lend his insight in the development of our new safety leadership academy in West Virginia.”
Quillen’s rise to the top
The Alpha executive began his industry career in 1974 and over time he served in leadership positions at several prominent mining companies including Pittston Coal and American Metals and Coal International.
From late 2002 to early 2003 over a three-month period, Quillen compiled a team of executives, executing a plan with private equity firm First Reserve to acquire mining assets from Pittston, AMCI and Coastal Coal – all foundations for what is now Alpha Natural Resources.
On a growth path that realized a threefold jump in coal sales between 2008 and 2011, he navigated the producer through two major transactions, the first of Foundation Coal Holdings in July 2009 and the second last June when Alpha purchased Massey Energy for $US6.7 billion.
Alpha Natural Resources is now the sixth-largest coal supplier in the world, with revenue of $7.1 billion last year.
It is also the second-largest producer in the US by revenue and is the nation’s largest metallurgical coal supplier.
