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Calls to Dismiss McClendon Rising at ‘Tainted’ Chesapeake

Chesapeake Energy Corp.’s efforts to defuse a shareholder revolt over Chief Executive Officer Aubrey McClendon’s personal finances and management missteps have intensified calls for his dismissal.

In the past six weeks, the second-largest U.S. natural-gas explorer shrank pay packages, eliminated perks, agreed to remake its board, and obtained a $4 billion loan to cope with tumbling gas prices and a looming cash shortfall. Still, McClendon is $7.4 billion shy of the asset sales he said are needed during the next six months to cover drilling costs and begin to repay ballooning debt.