Chesapeake Energy: CEO to Step Down
Wednesday, January 30, 2013
Aubrey McClendon, the unpopular and brash CEO of Chesapeake, will leave the company he founded 24 years ago.
McClendon, 53, cites “philosophical differences” as the reason for his retirement. He served as Chesapeake’s Chief Executive Officer since the inception of the company in 1989 and served as Chairman of the Board from its founding in 2012.
McClendon will leave the company April 1 and will serve as CEO until then.
His successor has not been named.
The announcement came after markets closed Tuesday.
More coverage from:
Bloomberg: Chesapeake CEO Resigns After Scrutiny on Personal Loans
The New York Times: End of the Road for Chesapeake’s C.E.O
The Wall Street Journal: Chesapeake CEO McClendon to Exit
Forbes: Billionaire McClendon Out at Chesapeake Over Differences with Board
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