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Peabody names new CEO

World Coal,

Peabody Energy has announced today that President and Chief Operating Officer Glenn L. Kellow has been named President and CEO-Elect and will become CEO on 4 May 2015. Current Chairman and CEO, Gregory H. Boyce, will remain as Executive Chairman of the Board. Kellow has also been named to Peabody's Board of Directors.

"We are very pleased to name Glenn as CEO-Elect and have him join Peabody's Board of Directors," said Boyce. "Since joining Peabody in 2013, Glenn has led an operational team that has significantly improved safety, productivity and costs, while also overseeing corporate strategy, marketing and business development. Glenn brings substantial experience in multiple countries and multiple commodities throughout a highly successful career in global resources." 

The announcement concludes a thorough succession planning process that has been under way for several years.

Kellow has worked across a broad range of commodities spanning three decades. Prior to joining Peabody, he held multiple leadership posts on three continents over a 28-year career with BHP Billiton. He ultimately served as president of the multinational aluminum and nickel business with operations in South Africa, Australia, Mozambique and Colombia. He has held a number of executive, operating and financial positions in the coal, copper, base metals, steel and petroleum sectors in the United States, Australia and Chile.

"With its proud 132-year history, deep leadership bench, great people and high-quality assets, it will be my privilege to lead the pre-eminent company in the sector," said Kellow. "We continue to take all necessary steps to work through the challenging market downturn and are well positioned to benefit when coal markets improve. I look forward to continuing to work closely with Greg on the transition, with an overarching commitment to create superior value over the long term."

In Boyce's role as Executive Chairman, he will continue his governance oversight duties as Chairman of the Board, provide strategic support to the CEO and remain involved in the company's leadership initiatives in global advocacy, government relations and external outreach.

Boyce joined Peabody in 2003 as Chief Operating Officer and in 2006 was named Chief Executive Officer. During Boyce's tenure, Peabody has dramatically improved its US safety incidence rate; increased revenues and Adjusted EBITDA; significantly expanded its global footprint with activities in multiple countries; created a substantial Australian operating platform to serve higher-growth Asian markets; and earned more than 225 major global safety, environmental and financial awards for excellence. Boyce also continues in his role as Chairman of the Coal Industry Advisory Board of the International Energy Agency.

Adapted from press release by Sam Dodson

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