SOURCE: Walter Energy

Walter Energy

June 01, 2012 13:28 ET

Walter Energy Hires Bill Harvey as Chief Financial Officer

BIRMINGHAM, AL--(Marketwire - Jun 1, 2012) - Walter Energy Inc. (NYSE: WLT) (TSX: WLT), the world's leading, publicly traded "pure-play" producer of metallurgical coal for the global steel industry, today announced that it has hired William "Bill" Harvey as its Chief Financial Officer, effective July 9, 2012.

"I am confident that Bill will be an excellent fit with our senior management team," said Walt Scheller, Chief Executive Officer of Walter Energy. "Bill is a proven strategic leader and problem-solver. He brings to Walter Energy a strong personal and professional background and expertise. I look forward to working with him to accomplish our financial and organizational goals and to enhance shareholder value."

Added Mr. Harvey, "I look forward to contributing to Walter Energy's strategy. I am also eager to further develop Walter Energy's already strong financial culture focused on fostering integration, facilitating growth and instilling best practices."

Mr. Harvey was previously Senior Vice President and Chief Financial Officer of Resolute Forest Products Inc. (formerly AbitibiBowater Inc.), a global forest products company listed on the New York Stock Exchange and the Toronto Stock Exchange. At Resolute, Mr. Harvey had overall accountability for finance, accounting, treasury, SEC reporting, tax, risk management, business development, strategic planning and investor relations. He worked at Resolute for more than 20 years and excelled in increasingly challenging positions, including playing a major role in the 2007 merger of Abitibi-Consolidated Inc. and Bowater Inc., which resulted in a $7 billion revenue company.

With an MBA from the University of Toronto, Canada and a bachelor of science degree in mechanical engineering from the Queen's University in Kingston, Ontario, Canada, Mr. Harvey is also a Chartered Financial Analyst.

Mr. Harvey will succeed Robert Kerley, who is serving as Interim Principal Financial Officer and who will continue to serve as Walter Energy's Vice President, Corporate Controller and Chief Accounting Officer.

About Walter Energy

Walter Energy is the world's leading, publicly traded "pure-play" metallurgical coal producer for the global steel industry with strategic access to high-growth steel markets in Asia, South America and Europe. The Company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas. Walter Energy employs approximately 4,400 employees and contractors with operations in the United States, Canada and United Kingdom. For more information about Walter Energy, please visit

Safe Harbor Statement

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and may involve a number of risks and uncertainties. Forward-looking statements are based on information available to management at the time, and they involve judgments and estimates. Forward-looking statements include expressions such as "believe," "anticipate," "expect," "estimate," "intend," "may," "plan," "predict," "will," and similar terms and expressions. These forward-looking statements are made based on expectations and beliefs concerning future events affecting us and are subject to various risks, uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that could cause our actual results to differ materially from those matters expressed in or implied by these forward-looking statements. The following factors are among those that may cause actual results to differ materially from our forward-looking statements: the market demand for coal, coke and natural gas as well as changes in pricing and costs; the availability of raw material, labor, equipment and transportation; changes in weather and geologic conditions; changes in extraction costs, pricing and assumptions and projections concerning reserves in our mining operations; changes in customer orders; pricing actions by our competitors, customers, suppliers and contractors; changes in governmental policies and laws, including with respect to safety enhancements and environmental initiatives; availability and costs of credit, surety bonds and letters of credit; and changes in general economic conditions. Forward-looking statements made by us in this release, or elsewhere, speak only as of the date on which the statements were made. See also the "Risk Factors" in our 2011 Annual Report on Form 10-K and subsequent filings with the SEC, which are currently available on our website at New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us or our anticipated results. We have no duty to, and do not intend to, update or revise the forward-looking statements in this release, except as may be required by law. In light of these risks and uncertainties, readers should keep in mind that any forward-looking statement made in this press release may not occur. All data presented herein is as of the date of this release unless otherwise noted.

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