Yancoal CEO David Moult Steps Down, Ning Yue Takes Interim Helm

Leadership Change at Yancoal

Yancoal Australia Ltd has announced a significant leadership transition with the resignation of Chief Executive Officer David James Moult. After seven years with the company, five as CEO and two as an independent non-executive director, Moult has decided to retire from full-time employment to focus on other business interests. His resignation will take effect on 14 July 2025, although he has ceased active duties immediately.

Interim Leadership and Continuity

To maintain operational stability, Yancoal's Board has appointed Ning Yue, Chair of the Executive Committee and Co-Vice Chairman since September 2023, as acting CEO effective immediately. Yue brings over two decades of coal mining experience and has been instrumental in guiding the company’s executive strategy. His appointment is intended to provide continuity during the Board’s comprehensive search for a permanent CEO.

Reflecting on Moult’s Tenure

David Moult’s leadership period was marked by resilience and growth. He steered Yancoal through challenging times, including severe weather disruptions and the COVID-19 pandemic, emerging with the company in a robust operational and financial position. Under his guidance, Yancoal retired all its debt, paid billions in dividends, and secured listings on both the Hang Seng Composite Index and the S&P/ASX 200 Index.

In his farewell remarks, Moult expressed pride in the company’s achievements and confidence in its future, highlighting the strength of Yancoal’s executive team and operational personnel. He also emphasized his desire to spend more time with family and watch the company’s next chapter unfold under new leadership.

Board’s Perspective and Next Steps

Chairman Gang Ru conveyed the Board’s gratitude for Moult’s dedication and effective leadership. He acknowledged Moult’s pivotal role in positioning Yancoal for future success and extended warm wishes for his retirement. The Board confirmed there are no disagreements or unresolved matters related to Moult’s departure.

Looking ahead, the Board has committed to a thorough global search for Yancoal’s next CEO. While no timeline has been specified for the permanent appointment, the company has assured shareholders it will provide updates once a decision is made.

Implications for Investors

This leadership change comes at a critical juncture for Yancoal, a company that has demonstrated strong financial discipline and operational resilience. The appointment of an experienced internal executive as acting CEO suggests a cautious approach to transition, aiming to preserve momentum. Investors will be watching closely for signals about the strategic direction under new leadership and how the Board manages the CEO search process.