The producer did not indicate why Engelhardt has stepped down, but confirmed that the transition was effective immediately.

Engelhardt’s position was chairman, CEO and board member. Hatfield will serve as president and CEO and has been appointed to the board.

Independent lead director of the board Michael Scharf has been appointed Patriot chairman.

“On behalf of the entire board, I would like to thank Irl for stepping in at a critical time and providing a steady hand in leading Patriot through the initial phase of the restructuring process,” Scharf said.

He called Hatfield a “respected and proven leader” that has the executive and operating experience needed as Patriot continues its restructuring.

“With 30 years of industry experience, Ben has played an important role in improving the company's operations and is well-qualified to lead Patriot,” Scharf said.

Hatfield said his goal was to restore the company’s viability and keep its 4000-worker payroll working.

“We want to complete the reorganization of Patriot as swiftly and effectively as possible,” he said.

St Louis-headquartered Patriot will remain in its home, though Hatfield will continue to split time between St Louis and Charleston, West Virginia.

Senior vice president of financial planning Mark Schroeder also announced he would leave the company to accept a position outside of the coal industry.

“Mark has been a valued member of our management team since the company's formation, and we would like to thank him for all his efforts,” Scharf said.