Mr Boyce was elected to Peabody Energy’s board of directors in March 2005, and assumed responsibility as CEO in January 2006. He was elected chairman of the firm’s board in October 2007. He joined Peabody in 2003 as president and COO and has extensive US and international management, operating and engineering experience.

Previously, Mr Boyce served as chief executive – energy for mining major Rio Tinto. His prior positions include president and CEO of Kennecott Energy, president of Kennecott Minerals Company and director of government and public affairs of Kennecott Corporation. He also served as executive assistant to the vice chairman of Standard Oil.

Thomas Usher, Marathon’s chairman of the board, said: Marathon is very pleased to welcome Greg Boyce to the company’s board of directors. He has demonstrated a track record of value creation and an in-depth understanding of global energy markets. We look forward to Mr Boyce joining our board and contributing to our ongoing efforts to profitably grow Marathon.