SunCoke Energy (NYSE: SXC) and SunCoke Energy Partners LP (NYSE: SXCP) on Sept. 21 announced leadership changes designed to streamline management and drive greater effectiveness across the organization.
Michael J. Thomson, President and Chief Operating Officer, is leaving the company and stepping down from the SunCoke Energy Partners Board of Directors to pursue other interests. As a result, SunCoke will flatten its organization and expand the roles of key members of the existing leadership team, with Chief Executive Officer Fritz Henderson, Senior Vice President Mike Hardesty and Chief Financial Officer Fay West all assuming additional responsibilities. Also, Hardesty has been appointed to the Board of Directors of SunCoke Energy Partners.
Barry Elswick, Vice President, Coke Operations, is also leaving the company to pursue other interests. Hardesty will assume responsibility for the international coke business and Dovie Majors, Director of Performance Improvement and interim General Manager at the Indiana Harbor coke plant in Indiana, is being promoted to the role of Vice President, Domestic Coke Operations.
“We have a strong team at SunCoke that remains focused on driving operations excellence and is ready to embrace these important new roles,” said Henderson, the company’s Chairman, President and Chief Executive Officer. “I want to thank Mike Thomson and Barry Elswick for their many contributions to SunCoke.”
SunCoke Energy Inc. supplies high-quality coke to the integrated steel industry under long-term, take-or-pay coke contracts that pass through commodity and certain operating costs to customers. It is the sponsor of SunCoke Energy Partners, a publicly traded master limited partnership, holding a 2% general partner interest, 53% limited partnership interest and all of the incentive distribution rights. The cokemaking facilities, which bake coal into coke, are located in Illinois, Indiana, Ohio, Virginia, Brazil and India. In addition, the company owns approximately 110 million tons of proven and probable coal reserves in Virginia and West Virginia that it has lately been trying to sell.
SunCoke Energy Partners is also involved in the cokemaking business, and has coal handling terminals that have the collective capacity to blend and transload more than 45 million tons of coal each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports.