Zatezalo said he would exit the office of president for the Kentucky-based miner and all its subsidiaries immediately, while retiring as CEO on or before October 18.

He first joined Rhino in May 2004.

Rhino senior vice president and chief operating officer Christopher Walton has been selected for the position of president.

Zatezalo will remain active in the partnership, with Rhino saying it is working on an agreement that allows Zatezalo to continue his employment with the partnership in a role that requires a reduced time commitment.

Upon stepping down as CEO, Zatezalo will become board chairman for Rhino and current chairman Mark Zand will remain a director.

“We appreciate the many significant contributions that Dave has provided to the business during his tenure with the company,” Zand said.

“Dave's leadership and vision has guided the partnership through challenging times in the coal markets and has positioned Rhino as a strong, diversified energy company.

Zand also noted that Walton, who brings extensive knowledge to Rhino's coal operations, possesses the knowledge and leadership abilities to further build upon the company’s operations and safety record.

Zatezalo confirmed that the development of the Riveredge mine on Rhino’s Pennyrile property in western Kentucky would continue to be one main focus area for him looking ahead.