Peabody Energy extends employment of CEO Gregory Boyce : Business
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Peabody Energy Corp. has extended the employment contract of its chairman and chief executive officer.
Gregory H. Boyce, scheduled to step down as chairman and CEO at the end of 2014, will remain with the St. Louis-based company an additional year as executive chairman — or at least until a successor is named, according to a company filing on Friday with the U.S. Securities and Exchange Commission.
His compensation for 2014 will be unchanged regardless of whether his successor as CEO is appointed before the end of the year, according to the transition agreement between the company and Boyce, dated April 29.
For 2015, Boyce’s base salary will be cut to $900,000 from the current rate of $1,225,660 a year.
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