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McClendon Took Chesapeake Pay 15 Months After Firing

  • One-time king of U.S. gas was deposed by activists in 2013
  • McClendon sought to rebuild shale kingdom on three continents
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Ex-Chesapeake CEO McClendon Dies in Car Crash

Corrected

The late shale entrepreneur Aubrey McClendon was paid by Chesapeake Energy Corp. for more than a year after he was fired by the natural gas giant.

McClendon, who died in a car crash a day after being charged with bid rigging, parted ways in 2013 with Chesapeake, the shale gas explorer he co-founded and led for almost a quarter century. Upon his 2013 termination amid an investor revolt, his employment agreement entitled him to 33 installments of $112,500, followed by a lump sum payment of $7.2 million in July 2014, according to public filings by Chesapeake.