Burns Hargis, Oklahoma State University, will remain on Chesapeake's board until the audit committee, which he leads, completes its review of CEO Aubrey McClendon's financing arrangements with third parties that have relationships with Chesapeake.
The outgoing board members are:
• Richard K. Davidson, 70, who was overwhelmingly rejected by Chesapeake shareholders at the June annual meeting, receiving only 27 percent of votes in his re-election bid. Davidson resigned after the vote. He is former chairman and CEO of Union Pacific Corp. and had been on Chesapeake's board since 2006.
• Kathleen Eisbrenner, 51, founder and CEO of Next Decade, a company working to create new opportunities in the international liquefied natural gas industry. She has almost 30 years of experience in the industry. Eisbrenner joined Chesapeake's board in December 2010.
• Frank Keating, 68, who served two terms as governor of Oklahoma. He also was an FBI agent, prosecutor, state representative and state senator. Keating now serves as president and CEO of the American Bankers Association, a trade association based in Washington, D.C. He had been a Chesapeake director since 2003.
• Charles T. Maxwell, 80, senior energy analyst at Connecticut-based investment firm Weeden & Co. He stepped down from Chesapeake's board after reaching mandatory retirement age. Maxwell had been a director since 2002.
• Don Nickles, 63, who represented Oklahoma in the U.S. Senate from 1980 to 2005 after two years in the state Senate. He subsequently founded The Nickles Group, a consulting firm in Washington, D.C. He had been on Chesapeake's board since 2005.