Thursday, 03 Mar 2011 |Reuters|
Reuters reported that coal company Walter Energy Inc, which is in the process of buying Canada's Western Coal, said that Western CEO Mr Keith Calder will take the reins of the combined company after the deal is completed.
Walter Energy's interim CEO Mr Joe Leonard will step down from that position, but will remain on the company's board. The company said it expects the deal to close on April 1st 2011.
Walter agreed to buy Western Coal for USD 3.3 billion in December 2010, in a deal that will put it on track to becoming the world's No 3 producer of steel making metallurgical coal at a time of booming demand.
Mr Calder has been at the helm of Western Coal since late 2009 and was managing director of Rio Tinto's copper projects previously.
Western Coal has also nominated Mr Calder, Mr David Beatty and Mr Graham Marshall to serve on Walter's board.
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