Peabody Energy Corporation recently announced the retirement of its President - Americas, Richard A. Navarre. Richard worked for Peabody for 19 years. His stint as President of Peabody Americas lasted from March to July 2012.
Navarre retired for personal reasons and is succeeded as acting President of Peabody Americas by Charles Meintjes.
As part of the separation agreement Navarre will consult for the company for a maximum of 6 days a month for the rest of the year. For these exhaustive services he will be paid the sum of $30,000/month. Payments are due to him for September - December for a total of $120,000. This is on top of a lump sum severance payment of $630,000 and 41,356 vesting shares of company stock worth about $895,000.
I have to say that, if Peabody Energy ever needs someone else for the President - Americas role, or even just for consulting services ($120,000 for 24 days of work) I know someone who would be happy to fill in.
Retirement Announcement of Richard A. Navarre
Peabody Consulting Update
Navarre retired for personal reasons and is succeeded as acting President of Peabody Americas by Charles Meintjes.
As part of the separation agreement Navarre will consult for the company for a maximum of 6 days a month for the rest of the year. For these exhaustive services he will be paid the sum of $30,000/month. Payments are due to him for September - December for a total of $120,000. This is on top of a lump sum severance payment of $630,000 and 41,356 vesting shares of company stock worth about $895,000.
I have to say that, if Peabody Energy ever needs someone else for the President - Americas role, or even just for consulting services ($120,000 for 24 days of work) I know someone who would be happy to fill in.
Retirement Announcement of Richard A. Navarre
Peabody Consulting Update
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