Chesapeake Energy Executives Depart in Latest C-Suite Shake-Up

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(Bloomberg) — Chesapeake Energy Corp. said three executives are leaving, marking the latest shakeup of the senior ranks at the Oklahoma oil and gas producer since it emerged from bankruptcy four months ago.

Executive Vice President of Exploration and Production Frank J. Patterson; Executive Vice President, General Counsel and Corporate Secretary James R. Webb; and Senior Vice President and Chief Accounting Officer William M. Buergler are departing the company Friday, Chesapeake said in a filing.

The company said their exit was agreed on mutually and in each case is being treated as a termination without cause. They will receive severance in accordance with their employment contracts. No other details were provided.

Chesapeake was at the forefront of the shale-gas boom earlier this century, but racked up huge debts that ultimately led to its bankruptcy. It exited Chapter 11 protection in February. Doug Lawler stepped down as chief executive officer and the company has yet to appoint a permanent replacement.

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