Summary
Chesapeake Energy Corporation (CHK) announced the appointment of William M. Buergler as Senior Vice President and Chief Accounting Officer, effective August 29, 2017. Mr. Buergler, a licensed CPA with extensive experience in public accounting and prior service within CHK as Vice President - Tax since July 2014, will also serve as the principal accounting officer, a role previously held on an interim basis by the CFO. This appointment brings established internal expertise and external accounting credentials to a critical financial oversight position. The company also disclosed that Mr. Buergler has entered into an employment agreement with an initial term through December 31, 2018, subject to automatic one-year renewals thereafter. His compensation package includes a base salary of $420,000, eligibility for annual cash bonuses (with opportunities ranging from 40% to 160% of base salary), annual equity awards, and standard executive benefits. The agreement also includes one-year non-competition and non-solicitation clauses and subjects his incentive compensation to the company's clawback policies and applicable law. Additionally, CHK will enter into a standard indemnity agreement with Mr. Buergler.
Key Highlights
- 1William M. Buergler appointed Senior Vice President and Chief Accounting Officer, effective August 29, 2017.
- 2Mr. Buergler will also serve as the company's principal accounting officer.
- 3Mr. Buergler has a background as a licensed CPA and prior experience at CHK as VP - Tax since 2014.
- 4Employment agreement with an initial term through December 31, 2018, with automatic annual renewals.
- 5Base salary set at $420,000 annually.
- 6Eligible for annual cash bonuses (40%-160% of base salary) and annual equity compensation.
- 7Standard executive benefits, non-competition, non-solicitation clauses, and clawback provisions apply.