TORONTO (miningweekly.com) – US coal and natural gas producer Consol Energy on Friday announced that president Nicholas DeIuliis would assume the position of CEO following current CEO Brett Harvey’s appointment as executive chairperson.

These changes would become effective immediately after the company’s annual shareholder meeting on May 7.

During Harvey’s 15-year stint as the company’s headman, he had transformed the 150-year-old company by significantly expanding its coal business and by acquiring a gas exploration and production (E&P) business, through which the company intends to reduce its exposure to the soft coal market.

He also spearheaded the transformative sale last year of five West Virginia coal mines, representing about half of its coal production capacity.

Pressure was mounting on US coal producers as they dealt with increasingly tough environmental legislation regarding coal mines, coal-fired power plants and emissions control. The industry is also dealing with a rapidly developing shale gas market in the US, which increasingly makes gas much more competitive against coal.

In January, the company said it would lean more heavily on natural gas production than before, as it aimed at boosting output from its Marcellus Shale segment. Consol said it expected its 2014 gas output to range between 215-billion cubic feet equivalent (Bcfe) and 235 Bcfe (net to Consol), compared with the total of 172.4 Bcfe produced in 2013.

DeIuliis (45), had served as president of Consol since February 2011. He has more than 23 years of experience with the company, in both the coal and E&P divisions of the business, and in that time has held positions of COO and senior VP of strategic planning. He was also president and CEO of CNX Gas Corp, a NYSE-listed company, from its creation in 2005 through to 2009.

Consol’s NYSE-listed stock had gained 6.24% in value since the start of the year, and on Friday traded at $40.66 apiece.