Chesapeake CEO says Tuesday that company's “restructuring” should be complete by Nov. 1
By ADAM WILMOTH NewsOK.com on Sep 17, 2013, at 4:21 PM
Energy
The company said it will immediately start the process to find a replacement to ensure a smooth transition.
Developments in Syria and Libya also put downward pressure on oil prices.
OKLAHOMA CITY - Chesapeake Energy Corp. CEO Doug Lawler on Tuesday acknowledged what many employees have feared.
“Future staffing adjustments will likely be necessary to properly align resources and improve our overall operating and competitive performance,” Lawler said Tuesday in an internal email to Chesapeake employees.
In the internal email, Lawler said the company is working to continue its focus on financial discipline and that a “comprehensive review of all areas of our business is underway.”
“While Chesapeake is a strong and resilient organization that reflects our incredibly talented employees, we must adapt our organizational structure to become a sustainable, profitable company in the energy sector,” Lawler said in the statement.
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Energy
The company said it will immediately start the process to find a replacement to ensure a smooth transition.
Developments in Syria and Libya also put downward pressure on oil prices.
