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Chesapeake Corporate Governance Bill Sent to Governor

A new corporate governance law sought by Chesapeake Energy now awaits Gov. Mary Fallin’s signature.

Final approval from the state Legislature came Wednesday. The measure — House Bill 1646, authored by Rep. Fred Jordan, R-Jenks — reverses 2010 legislation that mandated staggered elections of directors at certain public companies, a corporate governance strategy designed to prevent a boardroom takeover.

Chesapeake Energy helped write the 2010 law, which didn’t protect it from a boardroom shakeup. Chesapeake pushed to reverse the law because the energy company’s new directors — and many of its shareholders — want annual board member elections, a structure in place at most of Chesapeake’s corporate peers.

Read the full story at StateImpact Oklahoma

Joe was a founding reporter for StateImpact Oklahoma (2011-2019) covering the intersection of economic policy, energy and environment, and the residents of the state. He previously served as Managing Editor of Urban Tulsa Weekly, as the Arts & Entertainment Editor at Oklahoma Gazette and worked as a Staff Writer for The Oklahoman. Joe was a weekly arts and entertainment correspondent for KGOU from 2007-2010. He grew up in Bartlesville, Okla. and studied journalism at the University of Central Oklahoma.
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