Peabody Energy Board of Directors completes succession planning process

The Board of Directors of Peabody Energy has elected Robert A. Malone to the non-executive role of Chairman of the Board, effective 1 January 2016. The veteran executive has been serving as Lead Independent Director of Peabody since January 2013. He will succeed Gregory H. Boyce, who will retire from Peabody effective 31 December 2015, concluding a comprehensive leadership continuity initiative that began in 2012.

"Today marks the successful completion of a multi-year succession planning process," said President and CEO, Glenn Kellow. "On behalf of the Board of Directors we thank Greg for his many years of service and wish him the best in retirement. We also welcome Bob to this position as a valued advisor and well-regarded energy and mining veteran. Bob is particularly suited to lead a skilled board that is energised to navigate the current environment."

Malone has extensive global executive and operational experience, and has served as a respected member of Peabody's Compensation, Executive, and Nominating and Corporate Governance committees. He is the retired Executive Vice President of British Petroleum (BP) plc and former Chairman of the Board and President of BP America Inc. Prior to joining BP, Malone was the President, CEO and Chief Operating Officer for Alyeska Pipeline Service Company and held a series of senior positions with Kennecott Copper Corp. He also currently serves as Executive Chairman of First Sonora Bancshares Inc.

Boyce's Peabody responsibilities capped a distinguished four-decade career in the resources sector. He joined Peabody in 2003 as President and Chief Operating Officer and served as CEO from 2006 to 2015. He also has served as Chairman of the Board in an executive capacity since 2007. Under Boyce's leadership, the company expanded significantly into Australia, increased its global trading platform, developed an Asia presence and completed several major acquisitions. Boyce was the only CEO to be named among top chief executives for both the energy and mining sectors, garnering recognition from Institutional Investor magazine and the Global Energy Awards, where he was named 2014 CEO of the Year.

Under his leadership, the company earned more than 225 major awards for safety, environmental and financial excellence. Boyce's industry leadership has included chairmanships of the Coal Industry Advisory Board of the International Energy Agency, World Coal Association and National Mining Association.

Edited from press release by Angharad Lock

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