AP-Criticism of certain payments have led Chesapeake Energy to consult with an outside compensation advisor. As a result, the company will cut the pay of its chief executive officer, name an outsider to the seat of Chairman of the Board, eliminate the personal use of company aircraft and ban personal company loans to executives. From now on, outside directors will be paid $100.000 in cash and $250,000 in company common stock per year. The company claims these changes bring outside director compensation to be more similar to their corporate peers. A good move!
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