McClendon's Chesapeake Pay Questioned
By Jerry Bohnen/NewsRadio 1000 KTOK ~ The $112 million dollars in salary, bonus and stock paid last year to Aubrey McClendon, CEO of Oklahoma City-based Chesapeake Energy company, is making the kind of news the company probably doesn't want.
The headline in today's edition of the Wall Street Journal boldly pronounces, "Chesapeake Holders Denounce CEO's Pay".
The paper quotes stockholders who are angry after learning payment details from Chesapeake's proxy statement. The statement indicated McClendon received a $975,000 base salary, a one-time $75 million bonus and $32.7 million in stock. Plus, there was a deal to buy a collection of maps and artwork valued at $12.1 million from McClendon.
One shareholder was quoted as calling the proxy statement a "shameful document." The statement was prepared for the company's annual meeting in June.
The headline in today's edition of the Wall Street Journal boldly pronounces, "Chesapeake Holders Denounce CEO's Pay".
The paper quotes stockholders who are angry after learning payment details from Chesapeake's proxy statement. The statement indicated McClendon received a $975,000 base salary, a one-time $75 million bonus and $32.7 million in stock. Plus, there was a deal to buy a collection of maps and artwork valued at $12.1 million from McClendon.
One shareholder was quoted as calling the proxy statement a "shameful document." The statement was prepared for the company's annual meeting in June.
Labels: Aubrey McClendon, Chesapeake Energy Corp.
posted by Mike McCarville @ 11:10 AM
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