CORRECTED-UPDATE 1-Consol Energy nominates Southeast Asset Advisors' former CEO to board

Mon Feb 8, 2016 8:59am EST
 
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(Corrects first paragraph to say Lanigan is the former CEO of Southeast Asset Advisors, not the CEO of Southeastern Asset Management; Drops incorrect reference to Southeastern Asset Management)

Feb 8 (Reuters) - Consol Energy Inc said on Monday it nominated Bernard Lanigan, former chief executive of Southeast Asset Advisors, for election to its board.

Consol Energy'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 in Bengaluru; Editing by Shounak Dasgupta)