Chesapeake Energy’s (NYSE: CHK) board of directors, in a Jan. 7 regulatory filing, endorsed governance changes and cut the salaries of executives and directors.
The directors decided to reduce their pay by 20%, and they eliminated an annual bonus for Aubrey McClendon, the company’s chief executive.
Board members also said that investors will be able to nominate some directors, a move that will give shareholders a stronger voice in company operations.
The company indicated it would take steps to reduce overhead, including cutting charitable and political donations.
In addition to ...