Chesapeake Appoints Dunham Chairman, Stripping McClendon

Chesapeake Energy Corp. (CHK) (CHK) appointed Archie Dunham, who retired as chairman of ConocoPhillips (COP) (COP) in 2004, to lead its board in place of Chief Executive Officer Aubrey McClendon.

Chesapeake also named Bob Alexander, Brad Martin, Fredrick Poses and Vincent Intrieri to its board, according to a statement today from the Oklahoma City-based company. McClendon will remain CEO of the second-largest U.S. natural-gas producer after being stripped of the board leadership he’s held since co-founding Chesapeake 23 years ago.

Dunham, 73, fits Chesapeake’s tradition of choosing leaders in sync with its culture. He’s an Oklahoma native, attended University of Oklahoma and spent almost five decades in the Oklahoma oil patch where McClendon got his start.

Read Full Article from Businessweek

- Posted: 2012-06-21 11:09:31

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