Chesapeake announces governance, compensation changes
BY JAY F. MARKS NewsOK.com
Monday, January 07, 2013
Amid an ongoing review of its business practices, Chesapeake Energy Corp. is poised to enact many of the proposals pushed by shareholders at last year's annual meeting.
The Oklahoma City-based oil and natural gas company has beefed up its corporate governance and executive compensation structure, according to a regulatory filing Monday. The company declined further comment.
Chesapeake intends to introduce proposals at this year's annual meeting to improve proxy access and remove supermajority voting standards in the company's bylaws. The company also will publish certain political expenditures on its website.
Chesapeake also is changing its executive compensation program to tie pay to the company's performance, while reducing perks like personal use of company aircraft, according to Monday's filing.
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