The appointment of C Scott Hobbs, Nancy Snyder and Wayne Moore brings the total number of directors on the SunCoke board to seven, at a time when the coke producer is flagging increased output rates and fundraising efforts.
SunCoke noted Hobbs’ auditing, compensation and governance experience as a director of Texas petroleum distributer Buckeye Partners and managing member of Energy Capital Advisors.
Snyder, a legal specialist in acquisitions, dispositions and commercial loans currently serves as executive vice president, chief administrative officer, general counsel and corporate secretary for oil and gas developer Penn Virginia Corporation.
The company credits Moore for auditing, compensation and governance experience in various senior executive roles at Penn Virginia, Goldman Sachs, and Madison Capital Partners.
The leadership expansion coincides with the announcement of an ambitious fundraising initiative.
Earlier this month, the Illinois-based company said it would launch a $US150 million private placement and an initial public offering through its Delaware limited partnership.
The private placement will offer senior unsecured notes due in 2020.
The IPO of 13.5 million common units listed on the New York Stock Exchange will represent a 43% interest in SunCoke Partners.
Underwriters will have a 30-day option to purchase up to an additional 2 million shares, representing a 49% interest in the partnership.
