Massey Energy Names New Company President

Massey Energy announced that its board of directors has elected Baxter F. Phillips, Jr. to be president of the company, a position formerly held by Don L. Blankenship. Blankenship will continue to serve the company as chairman and CEO.

Phillips most recently served as executive vice president and chief administrative officer of the company. In his new role, Phillips will assume increased responsibility for Massey Energy’s aggressive strategic growth plans. He will also continue to oversee the company’s Richmond headquarter functions, including sales, finance, human resources, information systems and investor relations and he will continue to serve as a member of the company’s board of directors.

“Baxter’s promotion will enable me to provide more intensive leadership to ensure the success of the capital expansion project we embarked on a year ago to increase production at our Central Appalachian coal mining operations,” said Blankenship, who also plans to continue his efforts to pursue new sales and growth opportunities for the company in emerging overseas markets.

Blankenship added, “Baxter’s 27 years with the company and his savvy business acumen uniquely qualify him to assume his new responsibilities. I have absolute confidence that Baxter’s experience will help the company deal with the current volatile financial markets, help us expand our metallurgical customer base and increase shareholder value.”

Phillips joined the company in 1981 and has served in a variety of functions, including export sales, purchasing, treasury, cash management, human resources, and benefits. In addition, Phillips served as senior vice president and chief financial officer from August 2003 to November 2004. A Virginia native, Phillips received both a bachelor’s degree in business management and master’s degree in business administration from Virginia Commonwealth University.

Massey Energy Company, headquartered in Richmond, Va., with operations in West Virginia, Kentucky and Virginia, is the fourth largest coal producer by revenue in the United States and is included in the S&P 500 Index.