Patrick Kriegshauser
Core Natural ResourcesAbout Patrick A. Kriegshauser
Independent director of Core Natural Resources (CNR); joined the Board on January 14, 2025 (the “Effective Date” of the Arch merger). Age 63. Former Executive Vice President and CFO with deep finance, audit, and coal/mining industry experience; current roles at CNR include Audit Committee Chair and member of the Health, Safety & Environmental (HSE) Committee . The Board determined in January–February 2025 that all directors other than the Executive Chair (Brock) and CEO (Lang) are independent under NYSE rules, which includes Mr. Kriegshauser .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ArchKey Holdings, Inc. (private) | Executive Vice President (previously EVP & CFO); Director | EVP & CFO July 2017–July 2023; EVP/Director through Nov 1, 2024 | Senior finance and operating leadership; private company board experience . |
| Sachs Electric Company (owned by ArchKey) | EVP, CFO, Principal Owner | 1985–2000 | Built finance function at electrical contractor serving industrial infrastructure . |
| Arch Resources, Inc. | Senior VP & CFO (1996–2000) | 1996–2000 | Top finance role at a public coal producer . |
| PricewaterhouseCoopers LLP | Early career | Began 1981 | Big Four audit grounding . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Arch Resources, Inc. | Independent Director | Oct 2016 – Jan 2025 | Served as Audit Committee Chair; stepped off upon CNR–Arch merger close . |
| Other current public boards | — | — | None disclosed . |
| Private boards | Director, ArchKey Holdings, Inc. | Through Nov 1, 2024 | Private company; not a public interlock . |
Board Governance
- Committee assignments: Audit (Chair); HSE (Member) .
- Independence: Affirmatively determined independent under NYSE standards (Board determined all except Brock and Lang are independent) .
- Audit leadership and expertise: Audit Committee comprised solely of independent directors; on Jan 14, 2025 all audit members (then serving) were determined to be “audit committee financial expert”; Audit Committee’s 2024 report is signed by “Patrick A. Kriegshauser, Chair” alongside members Valli Perera and Joseph P. Platt .
- Board structure and leadership: 75% independent board; four fully independent committees; Lead Independent Director is Richard A. Navarre .
- Meeting cadence/engagement context: In 2024 (pre-merger) there were 21 Board meetings; Audit 5; Compensation 5; Nominating & Corporate Governance 6; HSE 6. Legacy CONSOL directors attended 100% of their 2024 Board/committee meetings (Mr. Kriegshauser joined in 2025) .
Fixed Compensation (Director Framework)
| Element | Amount/Policy | Notes |
|---|---|---|
| Annual Board Cash Retainer | $140,000 | 2024 program . |
| Lead Independent Director Retainer | $175,000 total (includes $140,000 board retainer + $35,000 premium) | 2024 program . |
| Committee Chair Retainers | Audit Chair $30,000; Compensation Chair $20,000; Other Committee Chairs $15,000 | 2024 program; Audit Committee member (non-chair) retainer $10,000 . |
| Equity Grant (RSUs) | $150,000 grant-date value; vests on first anniversary of grant | Annual non-employee director award (2024 grant date May 7, 2024) . |
| Deferred Compensation | Directors may elect to defer cash and/or stock comp into deferred stock units, typically settled upon Board departure | Non-Employee Director Deferred Compensation Plan . |
| Stock Ownership Guidelines | Hold CNR stock equal to 5x annual cash retainer (based on market price or divisor $20.00); comply within 5 years | Applies to non-employee directors; compliance reported for directors as of Dec 31, 2024 (pre-merger cohort) . |
Note: The table reflects CNR’s 2024 director compensation framework. Mr. Kriegshauser joined the Board in 2025; specific cash/equity amounts paid to him for 2025 are not disclosed in the 2025 Proxy -.
Performance Compensation
- Not applicable for directors. Non-employee director equity is time-based RSUs; no performance metrics, options, or PSU structures are used for directors in the disclosed framework .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlock/Conflict Considerations |
|---|---|---|---|
| Arch Resources, Inc. (former) | Director (Audit Chair) | Audit Chair; also prior Arch CFO | CNR completed an all-stock merger with Arch on Jan 14, 2025; Board independence determinations post-merger affirm independence; no related person transactions reported for 2024 . |
| Current public companies | None | — | No current public company interlocks disclosed . |
Expertise & Qualifications
- Financial/audit expertise: Former CFO at Arch (public), ArchKey and Sachs Electric; Big Four audit experience (PwC). Determined “financially literate” and serves as Audit Chair; audit committee “financial expert” determination applied to all members as of Jan 14, 2025 .
- Coal/energy industry knowledge: Board tenure and senior leadership roles at Arch; substantial knowledge of coal and energy sectors cited by CNR .
- Governance: Prior public board leadership (Audit Chair, Arch); fits CNR’s skills matrix emphasis on finance, risk, EHS, and governance - .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Patrick A. Kriegshauser | 23,676 | <1% | As of March 6, 2025; part of 53,444,709 shares outstanding . |
- Ownership alignment: CNR’s director stock ownership guideline requires 5x annual cash retainer (price- or $20-based divisor) within 5 years; counts time-based unvested equity and deferred units toward compliance. The proxy confirms compliance for directors as of Dec 31, 2024 (pre-merger cohort); Mr. Kriegshauser joined in 2025 and would be within the 5-year window .
Governance Assessment
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Strengths for investor confidence
- Independent director with deep CFO/audit credentials as Audit Committee Chair; audit committee independence and “financial expert” status strengthen financial oversight .
- No related person transactions reported in 2024; robust related-party approval policy; clawback, anti-hedging, stock ownership, and independent consultant usage support governance quality -.
- Director compensation structure balances cash retainer with equity RSUs; clear chair/member fee schedule; deferral optionality aligns with long-term ownership .
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Monitoring items / potential red flags
- Post-merger continuity: Mr. Kriegshauser’s long history with Arch (former CFO and director) could create perceived alignment risk in merger integration oversight; however, Board independence was formally affirmed, and no related-party transactions were reported for 2024 .
- Attendance disclosure: The proxy shows 100% meeting attendance for legacy CONSOL directors in 2024; as a 2025 appointee, Mr. Kriegshauser’s 2025 attendance will first appear in next year’s proxy—monitor for engagement .
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Implications
- An independent, finance-first profile anchoring the Audit Chair role should bolster investor trust in reporting integrity and internal controls. His coal industry familiarity may expedite risk recognition in commodity cycles and safety/environmental oversight via HSE membership .