Coal company places Ward on board of directors

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CSX Chairman Michael J. Ward
Michael Ward
CSX Corp.
BRISTOL, Tenn. — Former CSX CEO Michael Ward is now on the board of directors for a coal company.

Contura Energy Inc. announced on Sept. 11, that long-time railroader Ward joined the company as an independent director. Ward’s appointment, along with Anthony Orlando of Covanta Holding Corp., marks the expansion of the board to six members after being formed in July 2016.

“We are pleased to have two individuals of Anthony’s and Michael’s caliber join our board,” Contura CEO Kevin Crutchfield said on Monday.

The expansion of the board of directors comes one month after Contura pulled its initial public offering stating current capital conditions would undervalue the company.

Contura was formed from assets purchased by a group of first lien-holders in the Alpha Natural Resources Inc. Chapter 13 bankruptcy case. Operations obtained in the purchase include surface and underground coal mines in Virginia, West Virginia, Pennsylvania, and Wyoming’s Powder River Basin. Employing approximately 2,400 workers at its sites, it is most notable that the majority of these workers are non-union — with only 648 members of the United Mine Workers of America on the payroll in late 2016.

CSX Transportation serves several of the company's mines in Appalachia, including the only mine operating on the former Clinchfield main line, Deep Mine 41 at McClure, Va.

Ward was ousted from his position at CSX earlier this year after activist shareholder Paul Hilal successfully convinced the railroad's board of directors to replace Ward with then Canadian Pacific CEO E. Hunter Harrison.

NEWSWIRETrains News Wire

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