SunCoke Energy, Inc. (NYSE: SXC), a leading producer of high-quality coke for the steel industry, today announced that its Chief Executive Officer and Board member Michael G. Rippey will retire on May 15, 2024. He will be succeeded by Katherine T. Gates, the current President of the Company, who will also join the Board as CEO.
The Board praised Mr. Rippey for his outstanding service and substantial contributions to SunCoke, citing his role in restructuring and strengthening the organization, reducing its risk profile, and achieving record earnings and profitability. Mr. Rippey will continue to serve as an advisor to the Company after his retirement.
The Board also expressed its confidence in Ms. Gates, who has more than a decade of executive experience at SunCoke, as the next CEO. Ms. Gates has demonstrated valuable expertise in operations, commercial, strategic, legal and environmental, health and safety (EHS) matters, as well as a strong execution orientation, high integrity, and great energy.
Both Mr. Rippey and Ms. Gates expressed their gratitude and pride for their team and their shareholders, and their optimism for SunCoke’s future success.