Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Departure of Chief Financial Officer
On January 2, 2020, Amy B. Schwetz, Executive Vice President and Chief Financial
Officer of Peabody Energy Corporation. ("Peabody" or the "Company"), notified
the Company that she will be leaving the Company to pursue another opportunity.
Ms. Schwetz and the Company agreed that Ms. Schwetz will continue with the
Company into the first quarter of 2020 in order to promote a smooth transition
of leadership. Ms. Schwetz's departure is not the result of any disagreement
with the Company on any matter relating to the Company's financial reporting,
internal controls, accounting or auditing, or its policies or practices.
Appointment of Interim Chief Financial Officer
Effective January 6, 2020, the Board appointed Mark Spurbeck, age 46, the
Company's Senior Vice President and Chief Accounting Officer, to serve in an
interim role as the Company's Chief Financial Officer, Principal Financial
Officer and Principal Accounting Officer, while a search for a permanent Chief
Financial Officer is conducted.
Mr. Spurbeck has more than 20 years of accounting and financial experience, most
recently serving as the Company's Senior Vice President and Chief Accounting
Officer since March 2018. In this role, he has overseen Peabody's finance,
treasury, tax, internal audit, financial reporting and corporate accounting
functions. Prior to joining Peabody, Mr. Spurbeck served as Vice President of
Finance and Chief Accounting Officer at Coeur Mining, Inc., a diversified
precious metals producer, from March 2013 to January 2018. He also previously
held multiple financial positions at Newmont Mining Corporation, a leading gold
and copper producer, including Group Executive, Assistant Controller.
Mr. Spurbeck also previously served in several financial positions at First Data
Corporation, a financial services company, and Deloitte LLP, an international
accounting, tax and advisory firm. Mr. Spurbeck is a Certified Public Accountant
and holds a bachelor's degree in Accounting from Hillsdale College.
In accordance with Instruction 2 of Item 5.02 of Form 8-K, the Company will
amend this Current Report on Form 8-K to provide details of Mr. Spurbeck's
compensation relating to his new role as required.
There are no family relationships, as defined in Item 401 of Regulation S-K,
between Mr. Spurbeck and any of the Company's executive officers or directors or
persons nominated or chosen to become a director or executive officer. There is
no arrangement or understanding between Mr. Spurbeck and any other person
pursuant to which Mr. Spurbeck was appointed. There are no transactions in which
Mr. Spurbeck has an interest requiring disclosure under Item 404(a) of
Regulation S-K.
Item 7.01 Regulation FD Disclosure.
In connection with this executive leadership transition, the Company issued a
press release. A copy of the press release is furnished as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated by reference into this Item 7.01.
The information set forth in and incorporated into this Item 7.01 of this
Current Report on Form 8-K is being furnished pursuant to Item 7.01 of Form 8-K
and shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to
the liabilities of that section, nor shall it be deemed incorporated by
reference into any of the Company's filings under the Securities Act of 1933, as
amended (the "Securities Act"), or the Exchange Act, whether made before or
after the date hereof and regardless of any general incorporation language in
such filings, except to the extent expressly set forth by specific reference in
such a filing. The filing of this Item 7.01 of this Current Report on Form 8-K
shall not be deemed an admission as to the materiality of any information herein
that is required to be disclosed solely by reason of Regulation FD.
2
--------------------------------------------------------------------------------
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.1 Press Release dated January 8, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
3
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses