Chesapeake Energy Corp. on Friday replaced one of its oldest directors with 47-year-old Thomas L. Ryan, CEO of Service Corp. International, which owns cemeteries and funeral homes.
Ryan, who will stand for election at next month's Chesapeake shareholders meeting, was appointed after Louis A. Simpson resigned, the company announced. He is the youngest of the company's eight directors.
Simpson, 76, had been elected to the board in June 2011 at the behest of Chesapeake's largest shareholder, Southeastern Asset Management. The money manager recommended Ryan as his replacement.
Chesapeake Chairman Archie Dunham said the board was pleased to add Ryan.
“With his extensive management experience and financial expertise in running a leading North American public company, Tom will be a great addition to our audit committee and a terrific resource for our board and management team,” Dunham said.