You are hereHuffington Post: Don Blankenship Announces Retirement

Huffington Post: Don Blankenship Announces Retirement


December 3, 2010- Massey Energy Chairman and CEO Don Blankenship announced Friday that he will retire at the end of the month, finishing a nearly 30-year career that included big profits for the company but also labor conflicts, battles with federal regulators and a 2010 mine explosion that killed 29 people.

A millionaire who rose from obscure beginnings in coal country, Blankenship oversaw an ongoing plan to expand the production of Appalachian coal for growing Asian markets, but will leave behind a company that was badly shaken by a history-making mine disaster.

The company's board of directors named current president Baxter F. Phillips Jr. as the company's new CEO, effective Friday. Retired Adm. Bobby Inman, a board director, will serve as chairman. Blankenship's retirement date is Dec. 31.

"After almost three decades at Massey it is time for me to move on," Blankenship said in a prepared statement accompanying the surprise announcement. "Baxter and I have worked together for 28 years and he will provide the company great executive leadership."

Blankenship, who has served as chairman and CEO since 2000, leaves as Massey's safety practices are under scrutiny by federal and state mining regulators.

FULL STORY HERE:

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