Consol Energy Nominates Southeastern's CEO to Board

Consol Energy Inc said on Monday it nominated Bernard Lanigan, the chief executive of Southeastern Asset Management Inc, the coal and natural gas producer's largest shareholder, for election to its board.

The nomination came after Southeastern Asset Management said in July it was seeking a possible "monetization" of Consol's gas unit, including a spinoff or a sale.

Southeastern holds a 23.07 percent stake in Consol, according to Thomson Reuters data.

Consol Energy (CNX)'s annual meeting of shareholders is scheduled for May 11.

Pittsburgh-based Consol, which has shifted its focus to natural gas from coal, raised $101 million in October by selling coal assets, amid low coal prices.

However, the company is also facing low natural gas prices and reported an adjusted loss in the fourth quarter ended Dec. 31.

Consol shares rose about 5 percent in light premarket trading on Monday.

Up to Friday's close of $9.10, Consol's stock had slumped more than 70 percent over the past 12 months, steeper than the 40 percent fall in the Dow Jones U.S. Basic Resources Index.

Reporting by Amrutha Gayathri