Aubrey McClendon, who helped turn Chesapeake Energy into the second largest producer of natural gas in the United States with the rights to drill for oil and gas in more than 16 million acres of land across several states, has agreed to retire on April 1st. He will stay with the company until a successor is found. McClendon led the company into hard times in the last few years with a bevy of purchases that would have given a high payoff had natural gas prices remained high, but contributed to a surplus of gas that collapsed prices. The company has had to sell off assets to cover the debts accrued.
Read the full article here: Departure of Chesapeake CEO McClendon Signals New Era in Natural Gas
