HOME ABOUT US ADVERTISE SUBSCRIBE HELP CONTACT eMag  
Thursday
2 October 2014
Make PNG my HomePage 
 
Chesapeake CEO makes “worst executives” list

CHESAPEAKE Energy CEO Aubrey McClendon has made the 2012 worst chief executive officers list compiled by Dartmouth College business professor Sydney Finkelstein.

The list, published on Bloomberg’s Businessweek, cited McClendon’s inability to keep his personal and business finances apart as the reason for his listing.

Chesapeake came under heavy scrutiny in early 2012 after revelations that he had been borrowing heavily against the assets of the company.

McClendon borrowed as much as $US1.1 billion ($A1.04 billion) by pledging his stake in the company’s oil and natural gas wells as collateral.

The board launched a re-examination of his remuneration package while the SEC held a separate inquiry into the revelations.

McClendon’s right to take a personal 2.5% stake in every well drilled by the company was also removed.

It’s not all bad for McClendon though, he managed to beat out ex-chief executive Brian Dunn, who quit amid allegations of an inappropriate relationship with a younger employee.

Share this story:

Click here to read the rest of today's news stories.

 



Company Search




Story Search

Advanced Search
LATEST NEWS

Confident Cott's ‘pivotal’ year with Pandora


PNG politicians’ war of words over K50M


Horizon’s Beibu boost


Oil Search announces dividend price


InterOil in focus on Raptor


Lion set for 2015


EY appoints PNG tax partner


Stocks to Watch: October


Energy World’s productive 2014


Polye to serve UBS over Oil Search saga

RELATED LINKS

[SECTION]
-Oil and Gas
-Regional Watch
-General News
[REGION]
-North America
[RELATED STORY]
-BHP wipes off half of Chesapeake investment
-Kloppers sells shares to pay taxman
-BHP hunting for Kloppers' successor
[OTHER]
-Printable Version
-Send to a Friend



UPCOMING
EVENTS
MINING FOR EXECUTIVES, MANAGERS AND INVESTORS
Mining & Engineering New South Wales (M&E NSW)
REPORTING RESOURCES AND RESERVES
MANAGING MINE CONTRACTS
RESOURCE ESTIMATION USING GEOVIA SURPACTM
MINING FINANCE FOR NON-FINANCE PROFESONALS
  View all events