Corporate Responsibility Highlights
We are committed to safely and responsibly producing oil and natural gas.
Chesapeake works hard to maintain the confidence of our stakeholders. We earn this trust by acting in an ethical manner to protect our people, the environment and the communities where we operate. This starts by having accountability at all levels and systems in place to uphold our high standards for conduct.
Our company core values guide management and employee decision making. These values define us and drive our commitment to responsible operations.
Living our core values starts at the board level. Elected by our shareholders, Chesapeake’s Board of Directors oversees the long-term health and success of our business. The directors are skilled leaders with diverse experience equipping them to effectively advise Chesapeake’s senior management. Nine of our 10 directors are independent, including our non-executive Chairman.
Our Director Independence Standards and Corporate Governance Principles establish strong governance as a priority and create stakeholder accountability at the organization’s highest level. In addition to these standards, the Board has adopted progressive reforms that are responsive to shareholder concerns.
With an average board meeting attendance rate of 97.5%, our boardroom dynamic stresses meaningful discussion resulting in informed decision making. Our directors are expected to, and do, ask hard questions of management with the goal of maximizing shareholder value. The Board’s key focus areas are strategy and vision, financial and management oversight, board accountability and risk management.
Executive compensation serves as another layer of accountability for our stakeholders, encouraging strong safety, environmental and financial performance. Approximately 86% of Chesapeake's CEO's target total direct compensation is variable or at-risk and tied to performance. The Board’s Compensation Committee reviews our executive compensation program on a regular basis, involves an independent compensation consultant, and takes into account shareholder feedback.
Our non-employee director compensation program consists of an annual cash retainer and a value-based equity grant, and additional value-based equity grants for the Chairman of the Board and the Chairs of each Board committee. More detail on our compensation programs is included in our annual proxy statement.
Interested individuals may use the Director Access Line (866-291-3401) to leave messages for the Board. All calls are promptly reviewed and forwarded to the appropriate contact. The Board can also be contacted via mail or email.
The Board also invites institutional investors to meet periodically with our independent directors. This complements management’s investor outreach program and allows directors to directly solicit and receive investors’ views on Chesapeake’s strategy and performance.
Chesapeake’s core values serve as the foundation of our business and an essential element to our success. From sharing best practices to protecting our employees and business partners, we know that top performance can only come when you commit to acting with integrity and character.Learn more