Chesapeake Appoints Dunham Chairman, Replaces Four Directors
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Chesapeake Energy Corp. named former ConocoPhillips Chairman Archie Dunham to lead its board as the second-largest U.S. natural-gas producer struggles with falling energy prices and mistrust of its management.
Dunham, 73, fits Oklahoma City-based Chesapeake’s tradition of choosing leaders in sync with its culture. The Oklahoma native attended the University of Oklahoma and spent almost five decades in the Oklahoma oil patch where Chief Executive Officer Aubrey McClendon got his start. McClendon will remain on the board as CEO after losing the chairman’s post amid scrutiny of his personal finances and potential conflicts of interest.