Chesapeake Reduces Board Compensation, Nips Private Jets

Chesapeake Energy is still battling a tidal wave of negative press in a bid to prop up the stock price and prevent a “significant liquidity event” (i.e., being forced to sell the company). Their latest move is to reduce reduce the pay of board members and take away their private airplane rights. Still, board members get $350K per year, even after the 20 percent reduction.

From the Chesapeake press release:

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