8-K: Alliance Resource Partners Appoints Steven Schnitzer as General Counsel, R. Eberley Davis Transitions to Part-Time Role

Alliance Resource Partners, L.P. announced the appointment of Steven Schnitzer as Senior Vice President, General Counsel and Secretary, effective March 1, 2024, succeeding R. Eberley Davis who will transition to a part-time role.

Summary

• Alliance Resource Partners, L.P. (ARLP) has appointed Steven Schnitzer as Senior Vice President, General Counsel and Secretary of its general partner, Alliance Resource Management GP, LLC, effective March 1, 2024.
• R. Eberley Davis, the previous Senior Vice President, General Counsel and Secretary, stepped down from his position on March 1, 2024, but will remain with the Partnership in a part-time capacity.
• Steven Schnitzer has a long history with ARLP, including involvement in the 1996 leveraged buyout of MAPCO Coal, Inc. (now ARLP) and has extensive experience in M&A, corporate finance, and joint ventures.
• Mr. Schnitzer's previous roles include serving as General Counsel for Arc Logistics Partners, Tortoise Capital Advisors, and Onyx Renewable Partners, among others.
• R. Eberley Davis served in his role for seventeen years and will continue to provide executive oversight to the Health Care Plan and other strategic matters in his part-time role.

Sentiment

Score: 7

Explanation: The document conveys a positive sentiment due to the appointment of an experienced professional and the smooth transition of the previous role holder. The language used is professional and forward-looking.

Positives

• The appointment of Steven Schnitzer brings a seasoned general counsel with extensive experience in the natural resources and energy transition sectors.
• Mr. Schnitzer's prior involvement with ARLP provides a level of familiarity and understanding of the company's operations.
• R. Eberley Davis's continued involvement in a part-time capacity ensures a smooth transition and continued access to his expertise.
• The company is positioning itself as a reliable energy partner for the future by pursuing opportunities that support the advancement of energy and related infrastructure.

Future Outlook

ARLP is pursuing opportunities that support the advancement of energy and related infrastructure, positioning itself as a reliable energy partner for the future.

Management Comments

• Joseph W. Craft III, Chairman, President and Chief Executive Officer, stated that Steven Schnitzer is well-known to ARLP and several members of the management team.
• Mr. Craft expressed excitement about Steven joining the senior management team and believes his transactional expertise will be valuable to ARLP as they continue to pursue their strategic growth plans.
• Mr. Craft extended gratitude to R. Eberley Davis for his leadership and expressed appreciation that he will continue to add value to the Partnership in a reduced role.

Industry Context

The appointment of a new General Counsel with experience in both traditional energy and the energy transition space reflects the broader industry trend of companies adapting to evolving energy markets and seeking expertise in renewable energy and related infrastructure.

Comparison to Industry Standards

• The transition of a long-serving General Counsel to a part-time role is not uncommon in the industry, allowing for continuity while bringing in new leadership.
• Steven Schnitzer's experience with various energy-related companies, including those in the midstream and renewable sectors, is comparable to the backgrounds of legal executives at other diversified energy firms.
• His involvement with special purpose acquisition corporations (SPACs) in the energy transition space is a relevant experience given the current industry focus on renewable energy and infrastructure.

Management Changes

Stakeholder Impact

• Shareholders may view the appointment of a new General Counsel with relevant experience as a positive development.
• Employees may experience a change in leadership within the legal department.
• The transition of R. Eberley Davis to a part-time role may provide continuity and stability.

Key Dates

Keywords

General Counsel, Legal, Alliance Resource Partners, ARLP, Steven Schnitzer, R. Eberley Davis, Management Change, Energy, Coal, Natural Resources, Energy Transition