May 13, 2020
New Hope CEO and Managing Director Shane Stephan will be retiring from the helm of the coal miner on August 31.
Mr Stephan, who has been at New Hope for 11 years, has been guiding the company through its long – and still unresolved – campaign to gain approval for the Stage 3 expansion of the Acland coal mine.
“Shane has led the company through challenging times associated with the process of seeking approvals for the New Acland Stage 3 extension,” chairman Robert Millner said in a statement to the ASX.
“He has also led the company through a period of growth, with the acquisition of the company’s 80 per cent interest in the Bengalla Mine (near Muswellbrook in NSW).
“Sales tonnages have more than doubled during his tenure as CEO whilst the company has maintained its record of tight cost control.”
Mr Millner said consultants Korn Ferry had been appointed to assist with the process of selecting an appropriate successor to Mr Stephan.
Mr Stephan said he had started his career 39 years ago as a cadet mine manager in the Ipswich coal fields.
“I have had the privilege of undertaking many roles in my career, culminating in my current role as CEO of New Hope,” he said.
Mr Stephan joined New Hope Corporation as Chief Financial Officer in September 2009 after holding executive positions with Macarthur Coal.
He was appointed CEO on February 1, 2014, and then Managing Director on November 20, 2014.
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