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New Chesapeake Energy (CHK) CEO Doug Lawler will make more than $22M in 2013 - a cash salary of...

New Chesapeake Energy (CHK) CEO Doug Lawler will make more than $22M in 2013 - a cash salary of $1.25M plus a signing bonus, stock awards and other perks - according to an SEC filing. Predecessor Aubrey McClendon's 2012 compensation package totaled $16.9M, with a $975K cash salary.
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Comments (11)
  • rabdoes
    , contributor
    Comments (30) | Send Message
     
    And the beat goes on...and the beat goes on.

     

    At least Lawler will be able to afford a place in Aubry's Saugatuck.
    23 May 2013, 06:40 PM Reply Like
  • mix
    , contributor
    Comments (94) | Send Message
     
    He's not really welcome in Michigan anymore... http://bit.ly/10nZJZc
    23 May 2013, 06:45 PM Reply Like
  • Factzplz
    , contributor
    Comments (259) | Send Message
     
    That is IF all maximum performance goals are met, the vesting is accelerated into one year (it's not), he isn't fired by 3-31-2014 (which, the last I checked, is not in 2013), etc.

     

    And I would guess if the goals are met by 300% the stock will be doing quite well.

     

    Remember, all the "smart people" wanted McClendon gone. OK you caught the car, now what?

     

    Paper does not refuse ink, and SA writes a lot of things that are not true. Read it yourself.
    23 May 2013, 06:54 PM Reply Like
  • SharkDude
    , contributor
    Comments (695) | Send Message
     
    Fracking incredible!!!! Never ends.
    23 May 2013, 06:58 PM Reply Like
  • WPSPIKER
    , contributor
    Comments (1158) | Send Message
     
    HUMMM Wonder if the didn't get my APPLICATION, I was only asking for a few million bucks! lol
    23 May 2013, 07:02 PM Reply Like
  • pemdas1
    , contributor
    Comments (212) | Send Message
     
    It is expensive to clean up an oil mess.
    23 May 2013, 07:06 PM Reply Like
  • Harry Johnson
    , contributor
    Comments (482) | Send Message
     
    The most productive actions I ever took in an oil company I founded was to (1) fire my "executive search firm" CFO and replace him with a CPA who had been with me ten years before I succumbed to conventional wisdom and went outside the company for an executive, and (2) terminate five department managers and promote their assistants to their positions without giving them an immediate raise. In the following six months, we solved all of the problems we had struggled with for the preceding two years at considerably less cost.

     

    Following conventional wisdom will always generate the most cheers, but it seldom solves the problems. It is perfectly asinine to pretend that there was no one in the CHK fold who could assume the mantle of CEO. I am sure there are just as many good managers working for CHK as there were in the old Standard Oil Trust. When that was broken up into 35 companies and 35 of John D's managers were turned loose in the industry, Rockfeller's fortune skyrocketed. Every young turk at CHK that is worth his salt has been insulted if not demoralized.
    23 May 2013, 08:49 PM Reply Like
  • User 195396
    , contributor
    Comments (396) | Send Message
     
    Thanks for that-solid comment-going outside is usually extremely expensive and in a number of cases the candidate just does not work out because of difference in corporate cultures, alienated subordinates, severe personalty conflicts, etc, etc.
    23 May 2013, 10:08 PM Reply Like
  • TimeOnTarget
    , contributor
    Comments (3056) | Send Message
     
    As a general comment to the subject, another problem with people from the outside being brought in is that they always seem to feel the need to change things, to make sure everyone knows they are doing something. Sometimes it seems they don't even bother to learn what is being done and why before they do. I had the experience of watching a new outside manager come into the top spot of an organization and almost immediately he totally restructured things in a new way based on "function." No one who I knew who had actually experience with what the organization did thought the function idea was going to work at all--in this case the "functions" were surficial and relatively unimportant--it was the underlying subject matter expertise that mattered. I left that organization, but returned after 10 plus years. When I returned I found the organization in the process of changing things back to the way they were before the "function" based change--eight plus years after the outside manager had worn out his welcome and was gone. It boggles my mind to thing about the costs associated with that worse than worthless "function" change which was driven by nothing more than someone who wasn't particularly bright, but had a huge ego.
    30 May 2013, 11:14 AM Reply Like
  • iknow777
    , contributor
    Comments (32) | Send Message
     
    You can always sell your shares. People hate change because they are afraid to look forward. Change can be good- give it a chance.
    24 May 2013, 09:23 AM Reply Like
  • FPU1
    , contributor
    Comments (3) | Send Message
     
    Lawler knows Aubrey's past mistakes and hopefully comes in with a vision for the future. CHK is a good company with a lot of good talented people. Aubrey was for Aubrey and did not consider his actions with regard to his employees or stockholders. Good Luck Doug
    24 May 2013, 12:58 PM Reply Like
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