Dec 20, 2014 2 min read

On Dec. 8, Brett Harvey, the executive director of Consol Energy, notified the company’s board of directors that he intends to voluntarily resign as an employee of Consol effective Jan. 31. Harvey will continue as chairman of the board.

The board has approved annual compensation for Harvey as a non-employee chairman of the board at $675,000, with an additional $150,000 in restricted stock units. One would think that being a non-employee with compensation of $825,000 is excessive.

In the meantime, on Dec. 31, 1,200 Consol retirees will see their health care and life insurance benefits terminated due to the sale of mines and other assets to Murray Energy. As one of those retirees and a stockholder, I want to personally thank the board for their judicious appropriation of capital. I would welcome the opportunity to hear their reasoning for such a generous compensation package for Harvey when 1,200 retirees cannot be given what they worked so hard for.

The figures are not yet in for 2014, but in 2013 Harvey received the staggering amount of $32 million in total compensation. I implore the board to meet its moral obligation and restore the health care benefits to those loyal employees who counted on them in their retirement.

Harvey, I’m sure, will survive.

Robert H. Long

McMurray