Oklahoma City News, Entertainment & Occasional Humor • Established 2007

Aubrey McClendon is out at Chesapeake. Here’s the farewell email he sent to employees.

kateuptonaubreymcclendon

Here’s a little bit of breaking news. Chesapeake Energy has announced that the Company’s founder and embattled CEO Aubrey McClendon is leaving the company on April 1.

I received a Facebook message from a Mole at 3:45pm informing me that Aubrey was “fired” and a release was being issued at 4:00, but before I could check and/or verify it, Chesapeake issued a release stating that Aubrey was “retiring.” Yeah, “retiring.”

We’ve obtained an email that Aubrey sent to Chesapeake Energy employees after the official announcement:

Dear CHK’ers: By now you all should have received the press release announcing that the Board and I have mutually agreed to my resignation as CEO as of April 1, 2013. Although this is due to certain philosophical differences that exist between the Board and me, the separation will be amicable and smooth.

I have the utmost confidence in you and the company’s future and I will always treasure the time we have spent together building Chesapeake into the unique and dynamic company that it is today. In many respects, our accomplishments are unique and I will always remain immensely grateful for the time I have spent with you building CHK into the industry leader that it is today.

My best wishes to you all and onward and upward from here!

Aubrey

Aubrey K. McClendon
Chesapeake Energy Corporation
6100 North Western Avenue, 73118
Post Office Box 18496, 73154-0496
Oklahoma City, Oklahoma
Office: (405) 879-9226
E-mail: aubrey.mcclendon@chk.com

Anyway, we’ll have more details on this development tomorrow. I have to get back to writing trivia questions.

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Comments

  1. I’m sure he’ll have plenty of things to keep him occupied. Such as keeping Bernie Madoff company.

    Now, he has to flllllllllyyyyyyyyyy like a FREEBIRD!

      • A good portion of those reserves are committed to previously executed volumetric production payments. Also, the bond holders won’t let them liquidate the rest of their real assets, so that makes them pretty much worthless as a company. This is the beginning of the end.

        • Wrong.

          The reserves allocated to a VPP, are taken off the books. CHK accounts for VPP in full accordance with FASB. The revenue and associated expense are also taken off the books.

    • Yea an amazing rags to riches story of a Kerr heir. Maybe is just like Billy.

      I assume he agreed to step down when asked because they offered him money. He would owe the company millions otherwise and thus not actually be rich. A big part of his identity as you know.

  2. On second thought, he may go into another high-return business.

    Meth.

    I can see it now. “Come to the Methapeake campus! We have free dentists (to get a handle on the meth-mouth) and free botox (to get rid of those pesky bugs under your skin)!

    “Fracking” would refer to inject meth in between layers of muscle after all veins have been blown out.

  3. The sheer patheticness of the Oklahoman’s reporting on this is astounding. A fitting chapter to how they kissed Aubrey’s ass throughout his time at CHK. Now they basically run the press releases. Journalism!

    • That’s the funniest part, reading the local news stories. It’s like a contest to see who can mention that a “leader” and “pioneer” is “retiring”, while also burying the lead as deep into the article as possible–”Oh yeah, also, there was that thing that happened with $1 billion that may or may not be related”.

  4. I’m concerned with the question, does he get to keep the CNG-powered motorcycle built by Orange County Choppers?

  5. To me, this is kind of like Peter Doyle yelling one last “PUTTING ON THE RITZ!” before the villagers burn down his windmill. (That’s a Frankenstein’s monster/Young Frankenstein reference.)

    I know, it wasn’t well delivered… Hey let’s go burn Aubrey McClendon!!

  6. I once had a Chesapeake Retriever. She had a lot of Energy. Our separation was amicable and smooth also.

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