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CORRECTED-UPDATE 1-Consol Energy nominates Southeast Asset Advisors' former CEO to board

Published 2016-02-08, 08:59 a/m
© Reuters. CORRECTED-UPDATE 1-Consol Energy nominates Southeast Asset Advisors' former CEO to board
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(Corrects first paragraph to say Lanigan is the former CEO of
Southeast Asset Advisors, not the CEO of Southeastern Asset
Management; Drops incorrect reference to Southeastern Asset
Management)
Feb 8 (Reuters) - Consol Energy Inc CNX.N said on Monday
it nominated Bernard Lanigan, former chief executive of
Southeast Asset Advisors, for election to its board.
Consol Energy's annual meeting of shareholders is scheduled
for May 11.
Pittsburgh-based Consol, which has shifted its focus to
natural gas from coal, raised $101 million in October by selling
coal assets, amid low coal prices.
However, the company is also facing low natural gas prices
and reported an adjusted loss in the fourth quarter ended Dec.
31.
Consol shares rose about 5 percent in light premarket
trading on Monday.
Up to Friday's close of $9.10, Consol's stock had slumped
more than 70 percent over the past 12 months, steeper than the
40 percent fall in the Dow Jones U.S. Basic Resources Index
.DJUSBS .

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