SunCoke Energy Announces Election of Three New Directors
01/10/2012 - SunCoke Energy, Inc. announced the election of Karen B. Peetz, John W. Rowe and James E. Sweetnam to the company’s board of directors.
SunCoke Energy, Inc. announced the election of Karen B. Peetz, John W. Rowe and James E. Sweetnam to the company’s board of directors.
Ms. Peetz, 56, is Vice Chairman of the Bank of New York Mellon Corp. and a well-regarded financial services industry expert. Mr. Rowe, 66, is Chairman and CEO of Exelon Corp. and a recognized leader in the utility industry. Mr. Sweetnam, 59, most recently the President and CEO and Director of Dana Holding Corp., is a highly experienced international operating executive.
The company also announced that in connection with the previously announced spinoff of SunCoke from Sunoco, Sunoco Directors Stacy L. Fox; Michael J. Hennigan, Brian P. MacDonald, Charmian Uy and Dennis Zeleny will resign from the board effective January 17, 2012 – the planned distribution date of the special dividend to Sunoco shareholders of the remaining SunCoke Energy common stock owned by Sunoco.
“We are pleased that Karen, Jim and John have joined the SunCoke Energy board of directors. They are extremely qualified directors whose diverse experience will be an asset to SunCoke Energy and our shareholders,” said Frederick A. “Fritz” Henderson, Chairman and CEO of SunCoke Energy, Inc. “Their expertise will complement that of our existing board as we seek to maximize returns for our shareholders and continue to deliver value for our customers.”
“We also thank Stacy, Mike, Brian, Charmian and Dennis for their many contributions to the company over the years,” said Henderson. “They have played an invaluable role in helping SunCoke become an independent, standalone company, strongly positioned to grow our business domestically and internationally over the long-term.”
The three appointments and planned resignations bring the total number of directors on SunCoke’s board to seven.
Karen B. Peetz is a Vice Chairman at The Bank of New York Mellon Corp. with responsibility for the Financial Markets and Treasury Services group, a role she has served in since June 2008. From March 1998 until May 2008, Peetz served in senior management positions at BNY Mellon, most recently as Executive Vice President of the Corporate Trust Division (May 2003 until May 2008). Before joining BNY Mellon, Peetz spent sixteen years with JPMorgan Chase in a variety of sales and business management positions.
James E. “Jim” Sweetnam served as President, CEO and a director of Dana Holding Corp. from July 2009 until November 2010. From 1997 until June 2009, he served in senior management positions at Eaton Corp., mostly recently as President, Truck Group (2001 until June 2009). Prior to joining Eaton, Sweetnam spent ten years with Cummins Engine Co. in a variety of senior management positions. From February 2007 until its acquisition by Berkshire Hathaway Inc. in September 2011, Sweetnam served as a director of Lubrizol Corp. and as a member of its Audit Committee, its Nominating and Governance Committee and its Organization and Compensation Committee.
John W. Rowe is Chairman, CEO and a director of Exelon Corp. and a director of Commonwealth Edison Co. and PECO Energy Co., both subsidiaries of Exelon. He has served as a director and Chief Executive Officer or Co-Chief Executive Officer of Exelon since its formation in October 2000, and has served as Chairman and CEO of Exelon since April 2002. At various times since 2000 he has also held the title of President of Exelon. As previously announced by Exelon, upon the closing of the proposed merger of Exelon with Constellation Energy Group, Inc., Rowe will retire. He previously served as Chairman, President and CEO of Unicom Corp. and Commonwealth Edison Co. (March 1998 until October 2000). Mr. Rowe is a director of Northern Trust Corporation (an international financial services company), where he serves as Lead Director, Chair of its Corporate Governance Committee and as a member of its Compensation and Benefits Committee and its Executive Committee. Effective December 31, 2011, Rowe retired as a director of Sunoco, as Chair of its Corporate Responsibility Committee, and as a member of its Compensation Committee and its Executive Committee.
SunCoke Energy, Inc. is the largest independent producer of metallurgical coke in the Americas, with more than 45 years of experience supplying coke to the integrated steel industry. The company employs a heat recovery cokemaking process to produce high-quality coke for use in steelmaking, captures waste heat for derivative energy resale and meets or exceeds environmental standards. The company’s cokemaking facilities are located in Virginia, Indiana, Ohio, Illinois and Vitoria, Brazil, and its coal mining operations, which have more than 100 million tons of proven and probable reserves, are located in Virginia and West Virginia.
