Letter From President and Chief Executive Officer
Chief Executive Officer
To Our Stakeholders:
The new Peabody had its beginnings in April 2017 when we relisted on the New York Stock Exchange under our iconic BTU ticker symbol. I reflect upon a year of both considerable change and significant accomplishment across our business – a time during which Peabody also continued to live our mission: To create superior value for shareholders as the leading global supplier of coal, which enables economic prosperity and a better quality of life.
Peabody is proud to be the leading global pure-play coal company and a member of the Fortune 500, serving power and steel customers in more than 25 countries on six continents. Our approach to corporate social responsibility includes a commitment to sustainable mining practices, to building recognition of coal’s essential role in electricity generation and steelmaking, and to encouraging greater development and deployment of advanced coal technologies. It’s what we call “Coal Done Right.”
Peabody’s global safety performance continues to surpass industry averages. The Australian platform achieved a record safety year in 2017, and we remain ever vigilant on our journey of continuous improvement in safety. Our land stewardship resulted in more than 5,100 acres of land reclaimed – 1.4 acres for each disturbed – and we earned honors for our restoration techniques and environmental practices. Peabody reinforced our commitment to communities in which we operate, generating $10.6 billion in direct and indirect economic benefits.
Peabody continues to focus on good governance and oversight, and we are committed to strong environmental and social practices. We report water and waste indicators in reference to the Global Reporting Initiative framework and also disclose payments made to governments. We support many of the United Nations Sustainable Development Goals, which promote economic development, social inclusion and environmental protection in a sustainable manner. For the second consecutive year, Peabody was named the most responsible global mining company by Capital Finance International, highlighting our excellence in environmental, social and governance standards and performance. We were also awarded Coal Mining Company of the Year by Corporate LiveWire.
The fabric that unites the Peabody team is our mission, values and culture. To further unify employees, upon emergence the company provided a grant of restricted stock units with a vision that team members at each level of the organization would become shareholders of the new Peabody.
While 2017 marked numerous achievements, I am mindful that the restructuring process created challenges for many of our stakeholders. We continue to take action, converting lessons learned into longer-term positives to deliver results and generate value.
From the essential nature of our product to the best team in the industry, I am pleased with what we accomplished, together, during 2017. I thank Peabody’s more than 7,000 dedicated global employees for their many contributions that help our business succeed. I also thank our shareholders, customers, suppliers, community partners and other stakeholders for your ongoing support.
President and Chief Executive Officer