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The board of directors at Chesapeake Energy Corp. (NYSE: CHK) is under fire for the compensation package handed to CEO Aubrey McClendon -- and with good reason: He took home $112 million last year even as the stock tumbled from a 52-week high of $74 to its current price of $20.

According (subscription required) to The Wall Street Journal, "The compensation package, one of the largest for any corporate executive last year, included a one-time $75 million bonus, a $975,000 base salary, and $32.7 million in stock, according to the company's proxy statement. Chesapeake, one of the biggest U.S. producers of natural gas, also disclosed several transactions involving Mr. McClendon or companies in which he has an interest, including a deal to buy Mr. McClendon's collection of maps and artwork for $12.1 million."

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Chesapeake CEO faces heat on pay package originally appeared on BloggingStocks on Tue, 28 Apr 2009 00:10:00 EST. Please see our terms for use of feeds.

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