trending Market Intelligence /marketintelligence/en/news-insights/trending/IhCDZfiM4KCghgmTYaXSiA2 content esgSubNav
In This List

Chris Cline resigns from Foresight board of directors

Blog

Insight Weekly: Fed's policy stance; overdrafts under scrutiny; energy stocks rally

Blog

Q1 21 US Power Forecast

Blog

Metals & Mining Insights May 2021

Blog

European Energy Insights - May 2021


Chris Cline resigns from Foresight board of directors

Company founder Chris Cline resigned from his position on the board of directors of Foresight Energy LP.

According to a Form 8-K filing April 3, Cline resigned from the board and from his role as principal strategy adviser on March 28. Robert Moore will now serve as chairman of the board.

Robert E. Murray, son of Murray Energy Corp. president and CEO Bob Murray, became a board member effective March 28.

Murray bought a major stake in Foresight in April 2015.

According to the filing, Cline's departure was not due to any disagreement with Foresight regarding its operations, policies or practices.

"Other ancillary agreements were also entered into by and among subsidiaries of the company, entities controlled by Chris Cline, and Murray Energy," the filing said. "These agreements include (i) a cooperation among the three of them regarding the moving, plugging, reconfiguring, or modification of any applicable part(s) or portion(s) of an oil and gas system controlled by an affiliate of reserves to accommodate the development, mining, processing, transportation, or other function and/or activity of a mining operation in Southern Illinois; and (ii) an option granted by New River Royalty, a subsidiary of Reserves, to Murray Energy and a subsidiary of the Company to purchase certain property."