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Chesapeake's McClendon To Relinquish Chairman Position Following Loan Controversy, Remain CEO

May 3, 2012

Interesting news in support of the corporate governance trend to split up the Chairman and CEO roles.

Chesapeake Energy founder Aubrey McClendon was stripped of his chairmanship role Tuesday following shareholder complaints that his personal business interests could conflict with those of the company he runs.

McClendon will remain CEO. The company's board said it's searching for an independent chairman.

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