Advertisement
Advertisement

Chesapeake CEO Lawler Steps Down Months After Bankruptcy Emergence

By:
Reuters
Updated: Apr 27, 2021, 12:40 UTC

(Reuters) -Chesapeake Energy Corp said on Tuesday Chief Executive Officer Doug Lawler will step down from his position at the end of April, just months after the company re-emerged from a highly watched bankruptcy reorganization.

Chesapeake

Once the second-largest U.S. natural gas producer, Chesapeake filed for court protection last June, reeling from overspending on assets and a sudden decline in demand and oil prices spurred by the COVID-19 pandemic. It emerged from bankruptcy in February this year.

Lawler took the reins at Chesapeake in 2013 after the company’s wildcatter founder Aubrey McClendon stepped down amid investigations into possible antitrust violations. McClendon died in a car accident in 2016.

The company said on Tuesday its board chair Mike Wichterich will serve as interim CEO, while it searches for a permanent replacement.

(Reporting by Shariq Khan in Bengaluru; Editing by Shinjini Ganguli)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Did you find this article useful?

Advertisement