Coal companies Alliance Holdings GP LP (NASDAQ: AHGP) and Alliance Resource Partners LP (NASDAQ: ARLP) announced April 24 that Michael J. Hall has retired as a director of Alliance GP LLC, the general partner of AHGP, and Alliance Resource Management GP LLC (MGP), the managing general partner of ARLP.
“Mike Hall has been a key member of the Alliance team since 2003,” said Joseph W. Craft III, President and CEO of ARLP and AHGP. “Mike’s service on the boards of both MGP and AGP has been invaluable to the growth enjoyed by the Alliance Partnerships over the last 12 years and he has our deepest appreciation and gratitude for his many contributions to our success.”
Concurrent with Hall’s retirement, Alliance also announced the election of new directors to the boards of MGP and AGP. Nick Carter, a retired veteran of coal landholder Natural Resource Partners, has joined the board of MGP and will serve as a member of its Audit, Conflicts and Compensation Committees. Wilson M. (Mack) Torrence has joined the board of AGP and will serve as Chairman of its Audit Committee. Torrence will also continue to serve as a director of MGP and a member of its Compensation Committee and has assumed the role of Chairman of its Audit Committee.
“I am pleased to welcome Nick Carter to the Alliance team,” said Craft. “Nick is a respected leader in the coal industry and brings decades of knowledge and experience to the MGP board. I am also pleased that Mack Torrence has agreed to expand his commitment to Alliance by joining the AGP board and continuing to serve on the MGP board. We look forward to the guidance and counsel of both Nick and Mack as Alliance pursues its goal of creating value for unitholders.”
Carter, 68, retired in September 2014 as President and Chief Operating Officer of Natural Resource Partners. and its subsidiaries, having served in those positions since 2002.
Torrence, 74, became a director of MGP and a member of its Compensation and Conflicts Committees in January 2007 and a member of its Audit Committee in April 2008. He retired from Fluor Corp. in 2006 as a Senior Vice President and is currently performing investment and business consulting services for clients in various energy related businesses.
ARLP is a diversified producer and marketer of coal to major United States utilities and industrial users. ARLP, the nation’s first publicly traded master limited partnership involved in the production and marketing of coal, is currently the third largest coal producer in the eastern United States with mining operations in the Illinois Basin and Appalachian coal producing regions. ARLP operates ten mining complexes in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP is also purchasing reserves, operating surface facilities and making equity investments in a new mining complex in southern Illinois. In addition, ARLP operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana.
AHGP is a limited partnership formed to own and control Alliance Resource Management GP LLC, the managing general partner of Alliance Resource Partners LP.