Chesapeake Names Acting CEO As McClendon Steps Down

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Whilst continuing to search for a replacement for soon-to-be-ex-Chief Executive Officer Aubrey McClendon, Chesapeake Energy (NYSE: CHK  ) has set up an interim management structure to mind the store till a new boss has been hired.

The company announced Friday the formation of a three-person "Office of the Chairman" to oversee its operations. This tripartite management construct will initially consist of Non-Executive Chairman of the Board Archie W. Dunham, Chief Financial Officer Domenic J. Dell'Osso Jr., and Chief Operating Officer and Acting Chief Executive Officer Steven C. Dixon.

Speaking of which, that's the other big news of the week: Dixon has been named acting CEO and will take over the CEO's role when McClendon officially retires on April 1. No word yet, though, on whether Dixon's new interim job title brings with it a bump in pay. Chesapeake has yet to make any SEC filings regarding Friday's announcement.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2338242, ~/Articles/ArticleHandler.aspx, 9/28/2016 1:23:13 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,204.02 -24.28 -0.13%
S&P 500 2,155.53 -4.40 -0.20%
NASD 5,295.40 -10.31 -0.19%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/28/2016 1:07 PM
CHK $6.40 Up +0.17 +2.73%
Chesapeake Energy CAPS Rating: ***