In this Nov. 27, 2012, photo, White House press secretary Jay Carney speaks during his daily news briefing at the White House in Washington. Senate Democrats are deeply divided over whether cuts to popular benefit programs like Medicare and Medicaid should be part of a plan to address the nation’s financial problems, raising a big obstacle to an agreement to avoid the fiscal cliff, even if Republicans agree to raise taxes. Much of the focus during budget negotiations has centered on whether congressional Republicans would agree to raise taxes in exchange for spending cuts. "It is the president's position that when we're talking about a broad, balanced approach to dealing with our fiscal challenges, that that includes dealing with entitlements," Carney said Tuesday. (AP Photo/Pablo Martinez Monsivais)
Yancoal CEO to depart on July 6
Published: 07:26:55 AM, Mon 11 February 2013 UTC
Yancoal Australia says its chief executive Murray Bailey will not have his contract renewed when it expires on July 6.
The company has already begun a search for Mr Bailey's replacement.
Mr Bailey, who had been required to commute between Brisbane and Sydney, would now be able to spend more time with his Brisbane-based family, the company said in a statement on Monday.
"The board of Yancoal would like to thank Murray for his contribution to the company since he joined in 2010," Yancoal said in a statement.
Chinese-owned Yancoal joined the local share market in June 2012, after merging with Gloucester Coal, and owns several operating thermal and coking coal mines, both underground and open cut, in NSW, Queensland and Western Australia.
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