Chesapeake CEO Lawler Steps Down Months After Chapter Emergence
As soon as the second-largest U.S. pure gasoline producer, Chesapeake filed for courtroom safety final June, reeling from overspending on property and a sudden decline in demand and oil costs spurred by the COVID-19 pandemic. It emerged from chapter in February this yr.
Lawler took the reins at Chesapeake in 2013 after the corporate’s wildcatter founder Aubrey McClendon stepped down amid investigations into attainable antitrust violations. McClendon died in a automobile accident in 2016.
The corporate stated on Tuesday its board chair Mike Wichterich will function interim CEO, whereas it searches for a everlasting substitute.
(Reporting by Shariq Khan in Bengaluru; Modifying by Shinjini Ganguli)