Westmoreland Coal Co. has appointed Jeffrey S. Stein as an independent director to the company's board of directors effective 9 August 2016, to serve until the next annual election of directors.
Stein will serve on both the audit, and the nominating and corporate governance committees of the board. This appointment increases the number of directors from nine to 10 and fully satisfies the terms of the agreement reached with Venor Capital Management LP in March 2016 regarding Board expansion.
“Jeffrey brings an outstanding history of accomplishments as an executive and board member,” said Jan P. Packwood, Chairman of the Board of Westmoreland Coal Company. “We will benefit from Jeffrey’s contributions in his areas of expertise including capital allocation and structure, operating and financial performance, risk management, and investor communications.”
Stein is Founder and Managing Partner of Stein Advisors LLC, a financial advisory firm that provides consulting services to institutional investors. He is also Co-Founder and Managing Partner of Power Capital Advisors LLC, a financial advisory and merchant banking firm focused on energy, power and commodity-related project development and restructuring investments.
Stein currently serves as Chairman of the Board of Ambac Financial Group, Inc. (NASDAQ: AMBC) and as a director on the boards of Dynegy Inc. (NYSE: DYN), MLR Petroleum LLC (private) and Granite Ridge Holdings, LLC (private). Mr. Stein currently serves as a board observer on the board of TORM plc (NASDAQ CPH: TRMD A). He previously served as a director on the boards of US Power Generating Company (private) and KGen Power Corporation (private).
Edited from press release by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/coal/11082016/westmoreland-makes-an-appointment-to-its-board-of-directors-2203/