Mr Talbot will reappear in Brisbane Magistrates Court on Monday charged with making 35 corrupt payments to former Queensland health minister Gordon Nuttall, who retired last year.
Mr Nuttall has been charged with corruptly receiving the payments totalling $300,000 from Talbot between October 2002 and September 2005.
Both men say they are innocent.
Mr Talbot, who handed over the running of Macarthur Coal to former chief financial officer Nicole Hollows six months ago, last night confirmed he would not return as managing director of the company.
Ms Hollows has been appointed to the board as managing director and will remain as chief executive.
Macarthur Coal chairman Keith De Lacy said Mr Talbot had decided after more than 20 years that “it is time for the next generation of management to become fully engaged and put to rest speculation about his future role in the company”.
“He will remain a non-executive director and continue to play an important role in the evolution of the company,” Mr De Lacy said.
He said Mr Talbot was held in “very high regard” in the mining industry.
Ms Hollows’s appointment will be put to shareholders at the AGM in November.
With file information from news.com.au
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