The board of directors of Peabody Energy Corp. elected Robert Malone as its new chairman Thursday.
Malone has been lead independent director since for St. Louis-based Peabody since January 2013. He also previously served as CEO, COO and president of Alyeska Pipeline Service Co., and he is currently the executive chairman of First Sonora Bancshares, Inc., based in Texas.
Gregory Boyce, Malone’s predecessor, will retire Dec. 31, and Malone’s non-executive chairman position is effective the next day. Boyce formerly served as CEO of Peabody from 2006 to May 2015, and he has served as executive chairman since 2007.
Peabody, the largest private-sector coal company in the world, lost more than $1 billion in the second quarter, and its revenue dipped 24 percent to $1.3 billion.