Westmoreland Coal Co.’s Chief Financial Officer (CFO) and Treasurer, Jason Veenstra, has decided to resign from Westmoreland effective 15 December 2016. Veenstra has elected not to relocate to the company’s Denver headquarters as part of the ONE Westmoreland cost savings and cash optimisation initiative, which included centralising the accounting and finance function to Denver.
While Westmoreland conducts a search to include internal and external candidates, Gary Kohn, currently Vice President of Investor Relations, will serve as Interim CFOand Treasurer, effective immediately.
Veenstra said: “As Westmoreland continues to streamline its structure following the recent acquisitions, I believe Westmoreland is best served with a CFO sitting side-by-side with the rest of the team. I have thoroughly enjoyed being a member of this world-class organization but, after much deliberation, I have arrived at the difficult decision not to relocate my young family and to remain near our extended family in Edmonton.”
Chief Executive Officer, Kevin Paprzycki commented: “We understand and respect Jason’s decision to stay in his native Canada and wish him all the best. Jason is an outstanding executive who has made countless contributions to Westmoreland, including developing and implementing the ONE Westmoreland initiative. He did an outstanding job bringing our financial organisation together and exemplifies the very best in a senior finance leader. Jason will be missed both professionally and personally.”
Kohn joined Westmoreland in April 2016 to lead Westmoreland’s investor relations efforts. In addition to his investor relations focus, he has served in senior leadership positons across multiple functional areas, including finance, treasury and strategy for publicly held companies (including First Data, Western Union, Ciber and Intrepid Potash).
Read the article online at: https://www.worldcoal.com/coal/22112016/cfo-transition-at-westmoreland-coal/