David Stetson Leaves Alpha Metallurgical Resources After Successful Tenure

David Stetson's Retirement from Alpha Metallurgical Resources

In a significant leadership change at Alpha Metallurgical Resources, Inc. (NYSE: AMR), David Stetson has announced his retirement as the chairman of the board, effective December 13, 2024. This transition marks the end of an era for the U.S. supplier of metallurgical products, renowned for its contributions to the steel industry. Under Stetson's stewardship, Alpha returned to financial stability, achieving the remarkable feat of paying off its long-term debts and generating record revenues.

Michael Gorzynski, the lead independent director, is positioned to take over the chairman role once Stetson departs. The board of directors has also confirmed a reduction in board membership from seven to six members as of the same effective date. Gorzynski expressed immense gratitude for Stetson's contributions, stating, "David's visionary leadership set the company on a transformative path to improved financial strength and the potential for continued long-term, industry-leading success."

The announcement comes amidst accolades for Stetson's impactful tenure, during which he led Alpha Metallurgical from challenges to triumphs. In his words, Stetson reflected on his proudest achievements, saying, "There is no greater honor than to be part of an executive team whose accomplishments have positively impacted all of its stakeholders."

Stetson emphasized that during his time, Alpha provided stable employment, improved lives in the communities it serves, and ensured high-quality products for its customers, all while delivering favorable returns to shareholders. He highlighted the importance of continuing these objectives moving forward.

Stetson's impact extends beyond his role at Alpha. He was pivotal in forming the Metallurgical Coal Producers Association, dedicated to advocating for the metallurgical coal industry, which has seen significant growth under his guidance. Andy Eidson, Alpha's CEO, admired Stetson's leadership, noting that his mentorship greatly aided him during his own transition into the CEO position.

Reflecting on the future, Eidson has expressed confidence in Gorzynski’s ability to lead going forward, as both leaders aim to preserve and enhance the legacy that Stetson has built. “While we will miss David greatly, we are grateful for his loyal service to Alpha over these many years,” said Eidson.

Stetson's retirement is not perceived as a loss but rather as a tribute to a legacy shaped by dedication and resilience. He assured that the team at Alpha remains ever-ready to tackle the upcoming challenges ahead, fueled by the foundational successes achieved during his leadership.

As he departs from this chapter, there's obvious optimism about the future endeavors for both him and Alpha Metallurgical, with plans for Gorzynski's leadership expected to maintain the company's trajectory towards greatness.

Alpha Metallurgical Resources, established in Tennessee, operates across Virginia and West Virginia. The company prides itself on its high-quality metallurgical products and extensive global customer base. In these changing times, it aims to continue being a dependable supplier in the steel production field, promising stakeholders that the efforts initiated under Stetson will bear lasting fruits for the company’s future.

For more information about Alpha Metallurgical Resources and its offerings, visit AlphaMetResources.com.