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New Hope Corporation (ASX:NHC) - Retiring CEO & Managing Director, Shane Stephan
Retiring CEO & Managing Director, Shane Stephan
Sourced: Steel Guru
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  • Shane Stephan will retire as CEO and Managing Director at New Hope Corporation (NHC) from August 31, 2020
  • Shane joined New Hope in 2009 as Chief Financial Officer after previously holding numerous executive positions at Macarthur Coal
  • He was appointed CEO of the company in February 2014 and then Managing Director in November
  • Management consulting company Korn Ferry has been appointed to help in the process of selecting an appropriate successor
  • New Hope is down a slight 4.47 per cent and shares are trading for $1.39 each

Shane Stephan will retire as CEO and Managing Director at New Hope Corporation (NHC) from August 31, 2020.

Shane joined New Hope in September 2009 as CFO (Chief Financial Officer) after holding numerous executive positions at Macarthur Coal from 2001 to 2009.

He was appointed CEO of New Hope in February 2014 and then Managing Director in November of the same year.

Shane has more than 25 years’ experience in the coal mining industry and senior line management roles.

He also worked as District Inspector of Mines in Queensland, and was a member of the Coal Industry Health and Safety Advisory Council in Queensland.

“Having started my career in the Ipswich coalfields as a cadet mine manager 39 years ago, I have had the privilege of undertaking many roles in my career, culminating in my current role as CEO of New Hope,” Shane commented.

“The highlight of my term as CEO of New Hope has been the completion of the sequence of acquisitions leading to the company holding an 80 per cent interest in and management of the world-class Bengalla Mine,” he said.

“Given the quality of the company’s assets, strong balance sheet and talented team of management and staff, I have every confidence in the ability of the company to continue to generate strong returns for shareholders,” he added.

Management consulting company Korn Ferry has been appointed to help in the process of selecting an appropriate successor, both internally and externally.

Chairman Robert Millner had nothing but praise for Shane.

“Shane has led the company through challenging times associated with the process of seeking the approvals for the New Acland Stage 3 extension. 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,” Robert said.

“Sales tonnages have more than doubled during his tenure as CEO, whilst the company has maintained its record of tight cost control,” he added.

New Hope is down a slight 4.47 per cent and shares are trading for $1.39 each at 1:55 pm AEST.

NHC by the numbers
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