Chesapeake CEO Losing Chairman Title, But Keeping Powers

Although Chesapeake Energy CEO Aubrey McClendon is about to lose his title as Chairman of the Board, it seems that’s about the only thing he’s losing—the title. The power of the position—the ability to call board meetings and the power to call special shareholder meetings—he’s going to keep. The existing board of directors made a change to its bylaws last Friday to grant McClendon the right to call meetings.

Those critical of Chesapeake’s management take it to mean that nothing is really changing with respect to board oversight of McClendon.

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