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Aubrey McClendon
Born
Oklahoma City, Oklahoma
Nationality American
Occupation Chairman & CEO, Chesapeake Energy
Salary US$
Spouse(s) Katie McClendon

Aubrey Kerr McClendon (born 1959 in Oklahoma City, Oklahoma) is the chief executive officer, chairman, and co-founder of Chesapeake Energy. He was the highest-paid CEO at all S&P 500 companies in 2008, receiving a compensation package totaling $112 million.[1]

Contents

Biography

He was born to Joe and Carole McClendon, and is a great-nephew of Robert S. Kerr, a former Governor of Oklahoma and US Senator and founder of Kerr-McGee.

McClendon graduated from Duke University in 1981. He met his wife Katie, a 1980 Duke graduate, while attending college there. He was a member of Sigma Alpha Epsilon while at Duke.

Chesapeake Energy

McClendon is on the board of directors at Chesapeake Energy, which, among others, includes prominent Oklahoma politicians Frank Keating and Don Nickles. He co-founded Chesapeake, one of the largest natural gas producers in the United States, along with the company's former president Tom L. Ward in 1989 with a $50,000 initial investment.[2] In 2005 McClendon was named one of America's top-performing executives by Forbes Magazine.[3]

It was announced on October 10, 2008 that Aubrey McClendon sold approximately 33.4 million shares, essentially all of his stock in Chesapeake Energy, (stock traded as CHK) for 16.52 per share to meet a margin call after the rout in the U.S. stock market that week. Prior to the stock market turmoil the stock has been worth as much as 74.00 per share in the last 52 weeks, a loss exceeding $1.92 billion. [4]

NBA Oklahoma City Thunder

McClendon is affiliated with The Professional Basketball Club LLC (TPBC), which owns the NBA Oklahoma City Thunder club, as a minority investor. McClendon is also co-investor of Oklahoma City-based independent KSBI, bankrolling the primary broadcast and marketing rights of the team using the banner "Thunder TV".

The NBA had fined McClendon $250,000 for comments he made in The (Oklahoma City) Journal Record about his hopes of moving the Seattle Sonics to Oklahoma City.[5] PBC Chairman Clay Bennett stated that McClendon does not speak for the OKC Thunder franchise (then the Seattle Supersonics) in any official capacity, and therefore was simply stating his own personal opinions.

Michigan residential development

In July 2006, Aubrey McClendon purchased 402 acres (1.63 km2) of Lake Michigan shoreline at the mouth of the Kalamazoo River in Saugatuck, Michigan[6] for $39 million with the intention of developing the land into residential subdivisions.

Other interests

McClendon is the chairman of the board for American Clean Skies Foundation, a non-profit foundation that educates the public on clean energy sources.

Since 2000 McClendon has donated $678,050.00 to a variety of Republican candidates and conservative interest groups [7]. Most notable of these was a $250,000 donation to Swift Vets and POWs for Truth, a group whose purpose was opposing John Kerry's candidacy for the presidency in 2004. His donation made him the eighth largest contributor to the group.

In 2007 McClendon bought several full-page ads supporting the Duke men's lacrosse team in the 2006 Duke University lacrosse case.[8]

In response to fellow Oklahoman Boone Pickens announcement of his Pickens Plan, McClendon has run several television commercials praising Pickens for his support of increased natural gas usage.

References

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