Ciner Resource Partners CEO Kirk Milling resigns
On June 17, Ciner Resources received notice from Kirk H. Milling of his resignation as the President and Chief Executive Officer of Ciner Resource Partners, the general partner of the Partnership, as a member of the board of directors of the General Partner and all committees thereof, as a member of the board of directors of American Natural Soda Ash, and various other director and officer roles within members of the Ciner Group, the ultimate parent of the General Partner, including as President and a member of the board of managers of Ciner Wyoming LLC, the Partnership's majority owned subsidiary , each effective as of June 17. There were no disagreements between Mr. Milling and the Board of Directors, the Partnership, the General Partner or the Partnership's management regarding any matter relating to the Partnership's operations, policies or practices. In connection with Mr. Milling's resignation as the President and Chief Executive Officer of the General Partner, Ciner Resources Corporation expects to enter into a Separation and Release Agreement with Mr. Milling. The Separation Agreement will provide, among other things, that Mr. Milling will remain an employee until July 5, 2019, upon which time he will no longer be employed Ciner Corp, the General Partner or the Partnership. Subject to the terms and conditions set forth in the Separation Agreement, upon his termination, Ciner Corp will pay Mr. Milling a one-time separation payment of $1,000,000 in the aggregate, to be paid in two equal installments. In addition, Mr. Milling will be eligible to continue his health care coverage pursuant to the provisions of COBRA. The Separation Agreement also includes confidentiality and cooperation covenants, and a release of claims, in favor of Ciner Corp, the General Partner and the Partnership, among others.