Summary
Chesapeake Energy Corporation (CHK) announced a significant change to its Board of Directors on June 6, 2003. The company elected former Oklahoma Governor Frank Keating to the board, a move that is expected to bring substantial energy industry and public policy experience. Governor Keating's background includes extensive service in both state and federal government, including roles in the Treasury and Justice Departments, and two terms as Oklahoma's Governor, during which he was notably involved in energy policy and chaired the Interstate Oil and Gas Compact Commission. This appointment coincides with the retirement of Edgar F. Heizer, Jr., a founding member of Chesapeake's board since its IPO in 1993 and a key early investor. While Mr. Heizer is stepping down from the board due to health issues, he will retain a connection with the company as Director Emeritus. The board size remains at seven members following these changes.
Key Highlights
- 1Chesapeake Energy Corporation's Board of Directors has elected former Oklahoma Governor Frank Keating.
- 2Edgar F. Heizer, Jr., a founding board member and early investor, is retiring from the board.
- 3Governor Keating brings significant experience in energy policy and government leadership.
- 4Heizer will continue to advise Chesapeake as Director Emeritus.
- 5The board size remains at seven members after these changes.
- 6Chesapeake is one of the eight largest independent natural gas producers in the U.S.