The producer said Monday that Byrne, 61, will step down from his seat on May 31. No replacement has yet been named although WC officials said an announcement and any board additions would be made in due course.

"Since 2001, John has been instrumental in overseeing Western's growth from a junior coal exploration company to the company you see before us today, one that has coal operations across the globe and with plans to grow production to over 10 million tonnes in the next few years,” company lead director Robert Chase said.

“On behalf of the board, I thank John for his vision and tireless efforts to see Western become a major producer of metallurgical coal. We wish him well as he spends more time with his family while pursuing other business interests closer to his home in Australia."

Byrne said he was leaving the company with a solid financial position with good producing assets and a bright future ahead.

“The time is right to hand the reigns to the next generation to ensure the continued success of Western as it executes its plan to become a top tier global producer of metallurgical coal," he said.

Western Coal has now undergone a couple of executive shake-ups over just five months.

The producer appointed Keith Calder as president, chief executive officer and director of the company last December to replace a retiring John Hogg.

While Hogg stepped down from the board at that time as well, he opted to remain with the company as a senior consultant.

A 45-year industry veteran, Hogg had been with WC for six years, first as chief operating officer and later as president and chief executive officer.

WC, known as Western Canadian Coal before changing its name in late 2009, inked an agreement last July to buy struggling UK miner Cambrian Mining in a $C120 million (£67.5 million) deal.