Wed, 02 May 2012 06:21:49 CDT
Chesapeake Energy Corp. CEO Aubrey McClendon has been stripped of his post as company chairman, and the company axed a program that let him make personal investments in company wells, Bloomberg News reports. Reports of McClendon's use of his stake in company wells as collateral for loans sent Chesapeake (NYSE:CHK) stock reeling in April. McClendon and the company's board agreed to cut the program off 18 months early in June of 2014, Bloomberg reports. Southeastern Asset Management Inc. holds a...
Read full article at: bizjournals.com