Chesapeake Energy Corporation (CHK): Who Will Replace McClendon?

In my view, it would probably be better for the company to appoint someone as far removed from McClendon’s personal life as possible, especially considering the outrage his close friend and Chesapeake co-founder Tom Ward has aroused over his management practices at SandRidge Energy Inc. (NYSE:SD).

Final thoughts
Chesapeake had reportedly been in talks with one promising candidate but those apparently fizzled out. As it stands, the company hasn’t singled out any particular individual as a frontrunner for chief executive.

Speaking on his tenure at Chesapeake, McClendon said: “I am extremely proud of what we have built over the last quarter of a century, and I am confident that Chesapeake is in a great position to continue to grow and achieve great success in the future as it realizes the full value of its outstanding assets.”

The article Who Will Replace McClendon at Chesapeake? originally appeared on Fool.com is written by Arjun Sreekumar.

Fool contributor Arjun Sreekumar has no position in any stocks mentioned. The Motley Fool has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, and Short Jan 2014 $15 Puts on Chesapeake Energy.

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