Virginia-based coal producer Alpha Natural Resources (NYSE: ANR) said Jan. 7 that Chief Financial Officer Frank Wood will retire effective Feb. 28, at which time Alpha’s Executive Vice President and Chief Strategy Officer, Philip J. Cavatoni, will assume the CFO job.
Wood joined Alpha Natural Resources as part of its merger with Foundation Coal Holdings in 2009. While with Foundation, Wood served as Senior Vice President and Chief Financial Officer from 2004 through the completion of the merger. He also served in the same roles for RAG American Coal Holding from 1999 to 2004. From 1993 to 1999, Wood was Vice President and Controller at Cyprus Amax Coal, and from 1991 to 1993 he was Vice President of Administration at Cannelton Inc.
Alpha Chairman and CEO Kevin Crutchfield praised Wood’s contributions to the company and industry. “During his time at Alpha and throughout his tremendous 35-year career in the coal sector, Frank has established himself as one of the most respected financial professionals in the business. More than that, he is an institution within this industry. We are sad to see him go, but wish him well on a retirement well earned.”
Already a member of Alpha’s Management Committee, Cavatoni’s role with the corporation will be expanded to Executive Vice President and Chief Financial and Strategy Officer. Cavatoni has been with Alpha since 2009. Prior to joining the company, Cavatoni held numerous positions with J.P. Morgan, beginning in 1991.
Currently serving as Senior Vice President and Controller of a key Alpha subsidiary, Alan W. Jones Jr. will join Alpha’s Management Committee and be promoted to Alpha’s Chief Accounting Officer and Controller. In this role, Jones will report directly to Cavatoni. Jones joined Alpha in 2009 from Ernst and Young.
To further assist a smooth transition, Wood will continue to advise the company for several months after his retirement.
Alpha Natural Resources is one of the largest and most regionally diversified coal suppliers in the United States. With affiliate mining operations in Virginia, West Virginia, Kentucky, Pennsylvania and Wyoming, Alpha supplies metallurgical coal to the steel industry and thermal coal to generate power to customers on five continents.