Oklahoma City-based Chesapeake Energy Corp. is expected to name a new chairman this week, although the 23-year-old company has given no indication who that will be.
Aubrey McClendon has agreed to step down as chairman of the company he co-founded in 1989 after questions were raised about the company's corporate governance and a report that he secured up to $1.1 billion in personal loans, including loans from a private equity firm that does business with Chesapeake.
McClendon will remain as chief executive officer.
Chesapeake has said it will name a new chairman and four new board members by June 22, but the company has yet to formally accept the resignations of two directors who were denied re-election at Chesapeake's June 8 annual meeting.Read the rest of the article here.
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