May 12, 2020

New Hope Group chief executive officer set to retire

New Hope Group chief executive officer set to retire

New Hope Group chief executive officer and managing director Shane Stephan is standing down.

Mr Stephan has worked in Queensland’s coal industry for four decades and was appointed CEO of New Hope Group in February 2014.

His tenure will end on 31 August 2020 marking six-and-a half years in the role.

Among those to mark Mr Stephan’s contribution this week was Australian Resources and Energy Group, the AMMA.

He had led the company through a series of acquisitions, a doubling of its sales tonnage and remarkable improvements in safety, said AMMA Chief Executive, Steve Knott.

“Shane Stephan is well-known and highly regarded across Australia’s resources and energy industry,” Mr Knott said.

“He is a passionate advocate for Australia’s resources and energy sector and has played a significant industry leadership role, especially for Queensland.

“On behalf of AMMA I congratulate Shane Stephan for a fantastic career and thank him for his contribution to our industry.”

Mr Stephan’s planned retirement brings to a close a career that began 39 years ago on Ipswich coal fields, when he started out as a cadet mine manager.

Mr Stephan said he had been privileged to undertake many roles in his career, culminating in his current role as CEO of New Hope.

“The highlight of my term as CEO of New Hope has been the completion of the sequence of acquisitions leading to the company holding an 80 per cent interest in and management of the world class Bengalla mine,” he said.

“I am particularly pleased with the company’s improvement in safety performance over the past six years with the Total Reportable Injury Frequency Rate improving from 24 in early 2014 to 3.6 in the first
half of 2020.”

New Hope chairman Robert Millner said Mr Stephan had led the company through challenging times associated with the process of seeking the approvals for the New Acland Stage 3 extension.

He had also led the company through a period of growth, with sales tonnages more than doubling during his tenure as CEO, he said.

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