CanAm Announces Corporate Restructuring
CanAm Coal Corp. has announced organizational changes to streamline its operations and drive cost savings. Consequently, the company will relocate its head office from Calgary, AB to Birmingham, AL. The relocation reflects the reality that the CanAm’s principal operating assets are located in North Western Alabama. The move and resultant closure of the Calgary office is expected to save the company approximately $500,000 per annum.
In conjunction with the relocation, Robert (Bob) Lewis will assume the title of President & Chief Operating Officer of the Company. Lewis is co-founder and President of CanAm’s subsidiary, Birmingham Coal & Coke, and has more than 30 years of operating experience in the Southern Appalachian coal belt. As President & COO, Lewis will be directly responsible for all operational aspects of the business.
In addition to his role of Chief Executive Officer, Jos De Smedt will assume the Chief Financial Officer role, replacing Scott Bolton. De Smedt will be directly responsible for all governance, strategy, finance, regulatory and investor relations aspects of the business. De Smedt will maintain his primary residence in Calgary. Scott Bolton is leaving the company in order to pursue other business interests but will continue as an advisor to the Company and also as a director of CanAm.
Jon Legg, Chairman of the Board commented: “The moves reflect the company’s focus on operational execution and cost efficiency. Bob Lewis is a seasoned coal executive who knows the business from the ground up. We are absolutely delighted that Bob has agreed to take on the role of President and Chief Operating Officer. Additionally, having Jos in a combined CEO and CFO role will be an ideal fit and complement to Bob as we move the company forward from our new location in Birmingham.”