The company has also announced several executive promotions to ensure a smooth transition.

Executive vice-president and chief financial officer William Lyons and executive vice-president energy sales and transportation services Robert Pusateri step down on March 1.

Executive vice-president corporate affairs and chief legal officer P Jerome Richey will retire the following March, in 2014.

Lyons has been with Consol for 36 years, rising from the position of accountant to CFO. Prior to joining the company in 1976, he was an officer in the US Air Force.

He also is a board member of Calgon Carbon and Duquesne University.

Pusateri began his Consol career in 1974 as an accountant in the company’s controllers department. He transitioned to sales before being named president of Consol Energy Sales Company in 2005. In 2009, he was promoted to executive vice-president energy sales and transportation service.

In recent years, Pusateri assumed leadership of Consol’s research and development facility, Fairmont Supply and Land Resources Division.

Richey joined Consol in 2005 as general counsel and corporate secretary.

He took on the mantle of executive vice-president corporate affairs and chief legal officer in 2009.

Richey has overseen the legal function at Consol as well as the company’s government relations, public relations, human resources and environmental efforts.

Consol chief executive officer J Brett Harvey called the retirements an “extraordinary milestone” in Consol’s history.

“Each brought unique strengths to the company,” he said.

On the promotion front, vice-president of finance David Khani will be promoted to CFO effective March 1.

Senior vice-president and general counsel Stephen Johnson will be promoted to CLO and corporate affairs officer. He will take that role from January 1.

From November 15, James Grech will be promoted to chief commercial officer. He had previously been senior vice-president marketing of Consol Energy Sales Company.