The CEO of Colorado-based Westmoreland Coal Company is stepping down less than two years on the job.

The Douglas County coal company said that Kevin Paprzycki is stepping down immediately. No reason for the departure was given.

In early Tuesday trading, shares in Westmoreland Coal (Nasdaq: WLB) were down more than 18 percent, falling 23 cents to $1.

Paprzycki will be replaced by interim CEO Michael “Hutch” Hutchinson, chairman of the company's audit committee and current board member, according to a company statement.

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