Chesapeake Energy Corp.’s board withheld Chief Executive Officer Aubrey McClendon’s annual bonus after investors criticized the performance and management of the second-biggest U.S. natural gas producer.
Chesapeake Energy CEO Aubrey McClendon will retire effective April 1, according to a company release. Shares of CHK are surging in after-hours trading An internal review found McClendon did not engage in any improper conduct.
Back in May 2012, when Reuters' all out aggressive campaign against Chesapeake Energy was in full swing and the stock was trading around $14 per share, we predicted that contrary to the endless balance sheet bashing there was, in fact, much upside to CHK.
By Devon Shire: I've been following the saga of Chesapeake Energy (CHK) since 2005 when I first became fascinated with the huge unconventional land position the company had amassed. Way back then Chesapeake's share price was roughly $17 per share. Since then the following things have happened to Chesapeake:- The company expanded its resource play inventory to include liquids and oil plays