Further change at top of UK Coal
Property and mining company, UK Coal, whose largest shareholder is Peel Group, will appoint a new executive chairman, Jonson Cox, formerly chief executive of Anglian Water, on 15 November.
Cox will take over from current chairman David Jones and chief executive Jon Lloyd who will step down on that date from the board.
In a statement to the stock exchange, UK Coal said Lloyd will stay with the group until the end of November to facilitate the handover process.
Cox was group chief executive of Anglian Water Group from January 2004 until 31 March 2010, when the company entered a new regulatory cycle.
UK Coal said Cox "led the substantial recovery of AWG, including its subsidiaries Anglian Water, Morrison plc and AWG Property, both as a public company and after its change of ownership in December 2006."
Jonson Cox is also a non-executive director of Wincanton, the logistics group.
In July, UK Coal reshuffled the management board with Owen Michaelson, non-executive director of Peel, taking over a newly separated property division as managing director. The RICS valuation of UK Coal's property portfolio at the end of June was £384.2m compared to £393.8m in December 2009.
UK Coal has 86 projects planned around the county, mainly in Yorkshire and Northumberland, with the combined potential to deliver 30,000 homes and 32m sq ft of business space.
The only North West scheme is a business park on the Cutacre colliery straddling Bolton, Wigan and Salford. Mining at the site is due to finish in March 2011, following which 9m cubic metres of waste will be removed to reclaim the site for development. The scheme has partial consent and an application to extend the current consent has been made by Bolton Council as part of its Core Strategy process and is being considered by Government. There is existing consent for a 60-acre business park but the council wants to extend this to 200 acres, capable of holding 3.5m sq ft of offices, light industrial and distribution floorspace. There will also be a hotel, restaurants and health and leisure amenities on site.
Shares in UK Coal nudged up 2p to 37.75p by 10.30am on Wednesday, valuing the business at £107m.