Chesapeake Pays $15.4M to Prevent Exodus of Top Talent
Last week MDN told you the news that Chesapeake Energy founder and CEO Aubrey McClendon was given the pink slip by the Chesapeake board of directors (see Breaking: Chesapeake Energy CEO Aubrey McClendon Gets Pink Slip). At the time we theorized that Chesapeake may rue the day they let him go—we fully expect to see McClendon turn up again, running a new company to compete with Chesapeake. He’s young (53 years old), he’s charismatic, and he’s full of energy and determination.
Although it was pure speculation at the time, perhaps we weren’t so far off the mark. Chesapeake has awarded big (big) stock option “retention” bonuses worth $15.4 million to three members of McClendon’s leadership team to keep them right where they are—at Chesapeake: