As of January 1, Walter L. Hawkins will be vice president and treasurer, responsible for long-term financing, bank and lender relations, cash management, employee benefit plan investment management and insurance. He replaces Steven F. Schaab, who has announced his retirement.

Hawkins joined Peabody in 2001 as assistant treasurer, and his experience includes senior financial analyst with East-West Group, Ltd. and multiple treasury positions with Mobil Oil Corporation. He has a bachelor of arts degree from Georgetown University in Washington, D.C., an MBA from New York University, and has studied international affairs at Princeton University. Hawkins will report to Vice President - Finance and Controller L. Brent Stottlemyre.

Steve Schaab retires from Peabody after serving in multiple management roles over two decades, including land, finance, accounting and treasury.

"Peabody is grateful to Steve for his valuable service and extensive contributions to the company, and we wish he and Liz many years of happiness in the future," said Peabody executive vice president and chief financial officer Richard A. Navarre.

"Steve was particularly instrumental in Peabody's transition from a highly leveraged company in 1998 to a publicly traded company on the New York Stock Exchange, highlighted by his leadership in a highly successful $1.7 billion refinancing this year."

Michael C. Crews has been named director of financial planning. He has served in financial reporting and controller positions with Peabody since joining the company in 1998 and was most recently assistant controller - corporate. Crews previously held management positions with MEMC Electronic Materials and KPMG Peat Marwick.

Crews has a bachelor's degree in accountancy from the University of Missouri - Columbia and is completing an MBA from Washington University. He is a certified public accountant. Crews will report to Vice President - Finance and Controller L. Brent Stottlemyre.

Gary T. Kacich has been named assistant treasurer. In his new position, Kacich will be involved in long-term financing, bank and lender relations, as well as employee benefit plan investment management. Kacich joined the company in 1995, and has served in various accounting and financial positions within Peabody, most recently as director of financial planning.

He was formerly an accounting manager at Mallinckrodt and an audit manager with Ernst & Young. Kacich has a bachelor's degree in accountancy from the University of Missouri - Columbia and is a certified public accountant. Kacich will report to Vice President and Treasurer Walter L. Hawkins.