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TAMPA — Joe Leonard, CEO at Walter Energy (symbol: WLT), will step down once the company completes its merger with Western Coal. Keith Calder, current CEO for Western, will lead the new, post-merger company.
Leonard will continue to serve as interim CEO until April 1, when the merger is expected to be completed. After that date, he will remain a member of Walter Energy's board of directors.
Before joining Western, Calder served as managing director of Copper Products for Rio Tinto, the mining giant with headquarters in London and Melbourne, Australia, and nearly $57 billion in 2010 revenues.
Walter Energy stock traded for $117.14 a share at the close of yesterday's market. The company generated $1.6 billion in revenues in 2010.
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