Chesapeake CEO McClendon Resigning Amid Board Tensions

Law360, New York (January 30, 2013, 9:44 PM EST) -- Chesapeake Energy Corp. CEO Aubrey McClendon said Wednesday he will resign April 1, citing  "philosophical differences" with a board partially elected last spring during a shareholder revolt that followed missteps by the company he founded 24 years ago.

McClendon, who built Chesapeake into America's second-biggest producer of natural gas, was a champion of domestic drilling, adopting early and advancing quickly the technologies that have fed the country's energy renaissance.

But his high borrowing, aggressive land grabs, and big bet on a commodity whose price later tanked...
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