Sources close to UK Coal told The Guardian McPhie was a good financer but “not a leader of men bringing coal out of the ground". The newspaper also cited investor pressure as the decision behind McPhie’s forced departure.

Spindler, a non-executive director of the company, will take up the chief executive position in the next few weeks. The 56-year-old former president of Pittston Mineral Group is a US citizen but plans to move to Britain full-time.

Spindler began his career in mining as a section foreman with one of America’s largest coal operators, Consolidation Coal based in Pittsburgh.

He held various positions throughout the company leaving in 1984 as vice president

of non-mining operations. Following this he became chief executive at Pittston Mineral Group, which produced 20 to 30 million tonnes of coal per year.

In 1995 he joined Cyprus Amax Coal Company, the second largest coal business in the

US, producing 70 to 90Mt of coal per annum. His main objectives were the creation of a new strategy and the improvement of the operating performance of the group.