Bituminous coal producer Bowie Resource Partners LLC, which is majority-owned by the Galena Private Equity Resources Fund, has announced that the company's Founder and Chairman, John J. Siegel, has stepped down from his executive duties to become Non-Executive Chairman to focus on Board matters and specific projects.
In addition, Gene DiClaudio has been appointed CEO and Carlos Pons, a Board member of Bowie, has been appointed co-CEO alongside Mr. DiClaudio.
Coinciding with these appointments, the Galena Private Equity Resources Fund will provide a capital injection to allow Bowie to settle outstanding payments, including a termination fee owed to Peabody Energy Corporation."We would like to thank John for his vision and for his contribution to Bowie over many years and look forward to him continuing to serve as Board Chairman and wish Gene and Carlos every success in their new roles," said Jesus Fernandez, Bowie Board member and Principal for Galena Private Equity Resources Fund. "Their priority will be on day-to-day operations and on strong financial management. Galena remains committed to Bowie which remains the largest Western Bituminous coal producer in the US, producing high-quality, clean-burning coal that is sold to markets throughout the world."
Gene DiClaudio has 40 years of experience in the coal industry. Before joining Bowie in 2013 as Chief Operating Officer, he served as the President of the Arch Western Bituminous Group for seven years where he oversaw the operations of the Sufco, Skyline, Dugout Canyon and West Elk mines and was responsible for all operational results. Previously, Gene was president of Mountain Coal Company, LLC and held senior executive positions at ARCO Coal and BP Coal.
Carlos Pons has 13 years of experience in M&A in mining and natural resources. He started his career at Goldman Sachs in London and Moscowand also worked for Volga Resources Group as VP for investments and executed mining and infrastructure investments in Russia and Africa. He joined Trafigura in 2013 from Glencore where he was M&A manager of the Oil Department. Carlos is a Board member of a number of companies, including Bowie and Mineração Morro do Ipê, Brazil.
Read the article online at: https://www.globalminingreview.com/finance-business/13042017/bowie-resource-partners-makes-senior-management-changes/