Chesapeake Energy Corp. expects to have a new chief executive by the time co-founder Aubrey McClendon leaves on April 1, an executive said during Thursday's earnings call.
McClendon was not part of Thursday's conference call with analysts after leading the company's first 80 such calls.
Jeff Mobley, Chesapeake's senior vice president of investor relations and research, said McClendon will be missed.
?The culture and capabilities of the company Aubrey created and the standards of excellence he championed had been distinctive and inspiring, resulting in a company with extraordinary potential,? Mobley said. ?But his legacy will ultimately be the realization of that potential through the success and value that we all helped deliver after his tenure as CEO concludes.
?With those thoughts in mind and in behalf of nearly 12,000 employees at Chesapeake, we want to sincerely thank Aubrey for his visionary leadership and for his 24 years of tireless service to the company, to shareholders, to employees, and to the industry.?
Mobley said Chesapeake's board expects its ongoing search for a new CEO to be completed before McClendon steps down on April 1.
Source: http://feedproxy.google.com/~r/newsok/home/~3/txY53UgkFD8/3757632
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