Chesapeake CEO to take no bonus in 2012

Published on NewsOK Modified: January 7, 2013 at 7:03 pm •  Published: January 7, 2013
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The board, which includes five new members and the chairman who replaced McClendon, is trying to take tighter control of the company and allay investor fears.

It has hired an outside consultant to help identify ways to cut expenses. And it has reduced the company's planned contributions for charitable, trade and political contributions.

Chesapeake's shares gained 17 cents to close the day at $17.62 but fell 10 cents in after-hours trading. In the last 12 months, it is down about 27 percent.