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“Chesapeake CEO Search Extends Beyond Deadline – Source”

Filed by KOSU News in State Impact.
March 29, 2013

Outgoing CEO and company founder Aubrey McClendon is expected to step down on April 1 whether or not a successor has been named, Reuters reports.

The reason for the delay was not immediately clear. A spokesman for the Oklahoma City, Oklahoma-based company did not return a telephone call seeking comment on the process.

Analysts said several factors may be complicating the search: the second-largest U.S. natural gas producer faces financial and regulatory headwinds, it has a knotty financial structure that needs to be simplified, and there is a crowded field of public energy companies on the hunt for a CEO.

Read more at: www.reuters.com

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