After accepting board director Louis Simpson's resignation, Chesapeake Energy (NYSE:CHK) has elected Thomas Ryan, CEO of Service Corporation International (NYSE:SCI), as his replacement, the company announced. In addition to assuming Simpson's role as director, Ryan has been named to Chesapeake's audit committee. Ryan will stand for election at Chesapeake's 2013 annual shareholder meeting, scheduled for June 14.
Ryan, CEO of Service Corporation International since 2005, will assume R. Brad Martin's role on the audit committee. Martin has been named as chair of Chesapeake's nominating, corporate governance, and social responsibility committee, according to the press release.
Simpson was appointed Chesapeake's director in June 2011 and also served as chair of the nominating, corporate governance, and social responsibility committee since 2012. Commenting on Simpson's departure, Chesapeake Chairman Archie Dunham said: "Lou has made significant contributions to strengthening Chesapeake's corporate governance. We wish him the very best as he leaves the board to pursue his business interests."