Bergen to focus on long-term planning at CanAm Coal

CanAm Coal Corp. (TSXV: COE) (OTCQX: COECF) said Oct. 22 that after serving six years as the company’s CEO, Tim Bergen has made a personal decision to step away from day to day company operations in order to focus solely on business development activities.

As a result, he will step down as company CEO and assume the title of Vice Chairman of the board responsible for business development. Bergen’s mandate will be to develop the company’s 1- to 3-year expansion plan, including identifying and evaluating high value development projects and opportunities to develop a seaborne market for the company’s coal reserves. Jos De Smedt, CanAm President and COO, will assume Bergen’s day to day management responsibilities.

Commenting on the role change, CanAm Chairman Jon Legg said: “Under Tim Bergen’s leadership, CanAm successfully transitioned from a development company to a full production company, which has delivered exponential growth highlighted by the acquisition of an 80% interest in Birmingham Coal & Coke. With this acquisition completed, the Company is fully focused on operational execution and delivering strong financial results. Our Calgary and Alabama based management team led by Jos De Smedt has the capacity and experience to deliver on this mandate and Bob and Tom Lewis will be responsible for day to day management at all of our mines. As a result, Tim has determined that he can best serve the Company by focusing on development of future growth opportunities. Tim will continue to be a key member of the board of directors going forward.”

The company is also announcing that, effective immediately, De Smedt has been appointed to the Board of Directors.

CanAm’s main activities and assets include its four operating coal mines in Alabama and the undeveloped Buick/Limon lignite coal reserve in Colorado.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.