St. Louis-based Peabody Energy (NYSE: BTU) said Monday it would terminate its COO, Charles Meintjes. The move is effective Friday.
The coal producer gave no reason for the personnel change, but said the separation constitutes a termination “without cause,” as defined under a 2019 severance plan. Peabody said it will have to pay Meintjes “a lump sum in lieu of notice” of $133,700. In 2019, Meintjes got total compensation of $2.4 million.
“Charles was terminated without cause. His termination was…