Mr. Lawler joined Continental in February 2022 as Chief Operating Officer and Executive Vice President following three decades in the oil and gas industry. "Doug is a transformative leader who will build on all we have achieved in our company's 55-years. Lawler challenged participants at the Single Parents Support Network to look for those opportunities. Formerly a public school educator, Kathryn became a full time homemaker after the birth of her and her husband's second daughter. This is the second big layoff Doug Lawler has overseen at Chesapeake since he took control of the company in 2013. 
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I remembered their love and hope for a better future for me, he said. Other revelations include a wine collection in a cave hidden behind a broom closet in the Chesapeake office. After years of trying to tame its crushing debt, after laying off thousands of employees and after wiping out the investments of its common shareholders, Chesapeake Energy on Tuesday emerged from bankruptcy Feb. 9, 2021. Despite the bankruptcy and difficult time ahead, the company delivered around $3 million in retention bonuses to its top three executives before the bankruptcy was announced. He was also awarded the contract for the restoration of the San Francisco Palace of Legion of Honor Museum, that included renovation of several period rooms and the conservation/installation of the Spanish ceiling. Todd and his wife, Jill, have four daughters and two dogs. Over the next two decades, his career and his family both grew, as did his faith under the stewardship of Pastor Dennis. Doug Lawler, the chief executive of Chesapeake Energy Corp., will leave the company at the end of this month, little more than two months after the shale-gas pioneer emerged from bankruptcy. Patrick is the founder, editor and publisher of The Lost Ogle. Shouldnt their pay be clawed back due to poor performance? The shale boom also helped America become one of the worlds largest oil and natural gas producers and freed the United States from reliance upon other oil-producing countries. Its important to get the word out about single parents and the challenges they face and that we are all part of the solution, said Rhonda Thomas, founder and executive director of the network. He is affiliated with Russell County Hospital. nearly as much debt as Exxon and Chevron combined, highest-paid CEO in Oklahoma with $15.4 million in compensation, would not be effective in motivating and incentivizing, $16 million in bonuses days before filing for bankruptcy, GNC paid out about $4 million in cash bonuses to top executives. Lawler had been CEO since June 2013. [1] Notable people with the surname include: Anderson Lawler (19021959), American actor. Lawler had to contend with the impact of the Covid-19 pandemic, which hit all of the oil producers hard. It will probably be a buyers market. 2023 CNBC LLC. The job cuts translated into about 15% of the company's overall workforce and about 19% of the workers at its Oklahoma City headquarters. Lawler was the keynote speaker and a Legacy Award recipient at the event. It seems so unfair. Exclusive news, data and analytics for financial market professionals, Reporting by Arunima Kumar in Bengaluru; Editing by Aditya Soni, State actor involvement in Nord Stream pipeline attacks is 'main scenario', says Swedish investigator, Analysis: Europe facing costly winter without enough long-term LNG deals, Analysis: Oil bosses join Baghdad talks in sign of Iraq-Kurdistan progress, Singapore imports of Russian naphtha surge as EU ban shifts flows, US EPA to propose new vehicle pollution cuts, sees big EV jump, South Korea to offer $5.3 bln in financing to support battery investment in North America, United will cut some New York-area, D.C. flights after US waiver, Tesla nominates co-founder JB Straubel to board, UBS CEO tells Credit Suisse staff to stay focused on clients and the business. The company took on staggering amounts of debt in its rapid pursuit of aggressive growth. 87990cbe856818d5eddac44c7b1cdeb8, Continue reading your article witha WSJ subscription, Already a subscriber? Doug Lawler took over the role as CEO and was tasked with getting the company back on track and dealing with the large debt burden, which was nearly as much debt as Exxon and Chevron combined. Doug Lawler is leaving as CEO at Oklahoma Citys Chesapeake Energy Corporation and taking a chunk of change with him according to a late Tuesday filing the company made with the Securities Exchange Commission. It was essential to him that his daughter would look back on her childhood with fondness. Shannon Wilguess has been volunteering in Oklahoma City for more than two decades. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. WebDr. 
One of his many projects was the restoration of the Jade Pagoda at the Oakland Museum. CEO David McKillips lamented that the pandemic period has "been the most challenging event in our company's history." Lawlerwas brought in to thecompany as its CEOin 2013, after Chesapeake's board cut ties with founder Aubrey McClendon. 
McKillips received $1.3 million, President Roger Cardinale got $900,000 and CFO Jay Howell was awarded $675,000. If Youre Risk Averse, What Could You Be Missing? The company announced his departure on Tuesday, saying it will be effective April 30, 2021. Chesapeake Energy, one of the nations largest and most successful oil and gas producers, suddenly found itself saddled with too much debt and fierce competition from Saudi Arabian and Russian producers, causing dramatic declines in oil prices. All rights reserved. According to the Oklahoma County Assessor, the property value has increased to $4.15-million. At 17 years old, Dennis knew God was calling him into the ministry. While at the helm of Chesapeake Energy, Doug Lawler resolved to rebuild the U.S. shale producer and clean up its balance sheet, including through a slew of asset sales. Bob was saved at the age of 26 and loves the Lord with all of his heart. It closed out 2014by swapping out one $4 billion credit facility set to mature the following year with another one that extended out that period to 2019, with much more attractive terms. 
2023 www.oklahoman.com. McClendon left the company in 2013 under a cloud of questionable activities. Hertz paid a $700,000 bonus to chief executive Paul Stone. Dr. Wilguess is active in his church and his community, offering his services to those in need through free programs like Oklahoma Mission of Mercy and Ministries of Jesus. That's a nice little return on investment! Dell'Osso, who has been with the company since 2008, would replace board chairman Mike Wichterich, who became interim CEO after ousting former chief Doug Lawler in April, the people said. Studies show that the majority of Americans dont have an emergency fund that would last them three to four months. They believe there is a great need for this ministry, and Dennis and Marcia are exceptionally prepared for this mission. | Legal, Serious Incident and Fatality (SIF) Program. He also worked as a free-lance illustrator and was published in several periodicals in Barcelona. Got a confidential news tip? He had been widely credited with whittling away Chesapeake's $13 billion debt load with a conservative approach to spending and had shepherded the company through bankruptcy. Why doesnt the board of directors at the companies who file for bankruptcy protectionat leastset aside some of the millions of dollars allocated to CEOs and executives to the workers who desperately need the help? Chesapeake Energy Corp. on April 27 announced the departure of its CEO, Doug Lawler, and tapped Mike Wichterich to lead the company in Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. He served in numerous senior operational leadership positions during his tenure at Anadarko, including: Senior Vice President, International and Deepwater Operations and member of Anadarkos Executive Committee from 2012 to 2013; Vice President, International Operations from 2011 to 2012; Vice President, Operations for the Southern and Appalachia Region from 2009 to 2012; and Vice President, Corporate Planning from 2008 to 2009. Here's a brieftimeline of major events that occurred at Chesapeake Energy during Lawler's stint as CEO: After spending his entire career at Houston-based Anadarko Petroleum and its predecessor Oklahoma City-based Kerr-McGee Corp., Doug Lawler was named CEO for Chesapeake Energy in Oklahoma City in 2013. "We will take the necessary actions to protect our company, to protect our shareholders and all stakeholders, including the businesses in the community.". I got into the habit of buying fresh flowers every week, the Chesapeake Energy Corp. CEO said Tuesday at the Single Parent Support Network dinner. According to the Oklahoma County Assessor,the property value has increased to $4.15-million. Phone Number: (615) 867- GFSA +1 phone. Dr. Wilguess is President of the Oklahoma Dental Association and Past President for the Oklahoma County Dental Society. Lawler was a young petroleum engineer at Kerr-McGee Corp. when his wife of two years was diagnosed with brain cancer shortly after their daughter was born 20 years ago. CEO Robert D. "Doug" Lawler found in examining the company's books a $110 million bill for two parking garages, Faber reported Monday. Mr. Lawler currently serves on the Board of Directors of the American Petroleum Institute, State Chamber of Oklahoma, Greater Oklahoma City Chamber, United Way of Central Oklahoma and Harold Hamm Diabetes Center. The company did a reverse stock split in early 2020 as an attempt to boost its share prices,but options it could pursue to continue were rapidly evaporating. Everyone is facing challenges, he said. Andrew Hume, Interactive Editor-in-Chief Wichterich has served as the non-executive Chairman of Chesapeakes Board of Directors since February 2021. 2023 Continental Resources, Inc. All Rights Reserved. https://www.wsj.com/articles/chesapeake-energy-ceo-doug-lawler-is-stepping-down-11619542377. Everyone is facing challenges, he said. She strives to use her professional knowledge from the non-profit, healthcare, and higher education sectors to positively impact the community. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. We have to support each other.. During the late 70s, Doug traveled to a tiny Mexican fishing village, Yelapa, where he lived and produced a series of pastel drawings that were later exhibited in the U.S. This copy is for your personal, non-commercial use only. Todd and his family moved to Edmond, Oklahoma in 1998 with the expansion of the familys publishing business. Supreme Court hears biofuels mandate involving Oklahoma refinery. This is a BETA experience. The SEC filing also indicated the board treated Lawlers departure as a termination without cause pursuant to his employment agreement. Over the last 20 years, Doug has been focusing on dry point print- making in limited and numbered editions. As we march through life together, we need that support. Following the pattern of J.C. Penney, Hertz and other large, big-name companies that sought bankruptcy protection, GNC paid out about $4 million in cash bonuses to top executives, prior to the Chapter 11 filings. Bob has served as a deacon for over 20 years, and is currently a co-teacher in an adult community group at Henderson Hills Baptist Church. Wichterich will be the Interim leader while the Board of Directors carries out a search for a new Chief Executive Officer, a move that wont be completed for months. The Oklahoman's Jack Money, David Dishman and Joe Mussatto contributed to this report. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Chesapeake was also caught up in the RussiaSaudi Arabia oil price war of 2020. WebRobert D. (Doug) Lawler serves as President and Chief Executive Officer at Continental Resources. Who knew laying off employees could be so profitable! Before joining Chesapeake, Mr. Lawler served as Senior Vice President of International and Deepwater Operations at Anadarko Petroleum Corporation and as a member of Anadarkos Executive Committee from July 2012 to June 2013. This practice has led the company to great fortunes. WebGenealogy for Douglas Jeremiah Lawler (1919 - 2002) family tree on Geni, with over 230 million profiles of ancestors and living relatives. It stated that the Board of Directors and Lawler reached an agreement that Mr. Lawler will no longer serve in his position as President, CEO and director on the board. A mad dad, a stressed dad, fear, frustration? (https://reut.rs/3qBXnb3). Chesapeake's share price has fallen nearly 93% in 2020. Prices have tumbled throughout the coronavirus pandemic as demand has crumbled and the economic expansion that began in 2009 ended in February. bay area museums including the Oakland Museum and the San Francisco Museum of Modern Art. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The ruling, he said, putthe company on a path towards fundamentally resetting our company and preparing us to emerge a stronger and more competitive enterprise.. The company said it negotiated a restructuring agreement with most of its creditors that company officials assert will create a path back to profitability. Lawler and Chesapeakes executives arent the only ones who were financially taken care of before the bankruptcy. He began his career with Kerr-McGee in 1988 and joined Anadarko Petroleum following its acquisition of Kerr-McGee in 2006. We know the problems that result from single parenting and the lack of support for single parents affect everyone. It must be tough on him having to lay off all those employees. "While today is a challenging day, your leadership team and I are confident that this is the best path forward for Chesapeake, and that we will emerge from the Chapter 11 process as a stronger and more competitive company," Lawler said in a memo to employees. Join us for FREE Team Trivia, FREE Jackpot Bingo and FREE Music Singo at a bar or restaurant near you. Today's non-award-winning Lost Ogle conduct is presented by HOOT Industries The Smartest Fun in Town. Distribution and use of this material are governed by Despite the decreasing fortunes of the company, CBS reported that last year Lawler remained the highest-paid CEO in Oklahoma with $15.4 million in compensation, according to a ranking compiled by the Associated Press and Equilar. Lawler said the support he received from family, friends, his church, his company and his community was critical while he was a single dad. Originally she pursued her career as an RN, but for the last 25 years she has found herself leading monthly meetings with pastor's wives to teach them to navigate the waters of the ministry and cope with the pressure of scrutiny. Billionaire owns majority share of OKC Thunder. After receiving his degree at Grand Canyon University, he went on for his Master's at Midwestern Seminary. Chesapeakes filing indicated, The Board and Compensation Committee, with the advice of their independent compensation consultant and legal advisors, determined that the historic compensation structure and performance metrics would not be effective in motivating and incentivizing the companys workforce. There were some retention and bonus-waiving restrictions put into place. Susie currently serves as Secretary on the Board of Directors of Arise Ministries. Lawler was Chesapeake's CEO for eight years before he was unexpectedly fired in April last year, months after the company's emergence from bankruptcy. Mr. Lawler began his career with Kerr-McGee Corporation in 1988 and joined Anadarko following its acquisition of KerrMcGee in August 2006. Rising Together: Creating A Better Workplace Without The Rancor, Ace Your Interviews Part 3: After The Interview, What Freelancers Need To Know About Student Loan Forgiveness, Pressure For Empathetic Leadership Makes It Disingenuous, According To New Study. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. His office accepts new patients. Prior to founding Three Rivers Operating, Mr. Wichterich served as the Chief Financial Officer of Texas American Resources, New Braunfels Utilities, and Mariner Energy (NYSE:ME). People Projects Discussions Surnames Mr. Lawler graduated from the Colorado School of Mines in 1988 and from Rice University in 2002. As Lawler and his team settled into their jobs, they quickly turned their attention toward ridding Chesapeake Energy of its real estate and other non-core operations to refocus its mission on producing natural gas and oil. As you probably heard, Chesapeake Energy laid off562 employees from its Oklahoma City campus yesterday. Douglas Lawler II, MD is a Family Medicine Specialist in Lebanon, VA and has over 38 years of experience in the medical field. Most recently, Mr. Lawler was President & Chief Executive Officer and served on the board of directors of Chesapeake Energy Corporation from 2013 to 2021. Fracking giant Chesapeake Energy's bankruptcy filing comes following a financial mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages, sources told CNBC's David Faber. Always the larger-than-life character, he perished in a headline-grabbing manner. Mom had a loving family, a career, and lifetime of memories behind her. WebPeople named Doug Lawler. Extravagances further included a season ticket package to the NBA's Oklahoma City Thunder that was the biggest in the league and a lavish campus that was modeled after Duke University, complete with bee keepers, botox treatments and chaplains for employees. laid off 740 employees, including 562 in Oklahoma City, Your California Privacy Rights / Privacy Policy. Sign up for free newsletters and get more CNBC delivered to your inbox. "We will take the necessary actions to protect our company, to protect our shareholders and all stakeholders, including the businesses in the community.". He found much of the answer in his faith. That accounts for nearly 20% of the Oklahoma City workforce. To put that in perspective, that's less than nine percent of Arnault's net worth. After living in Texas for sixteen years, Susie and her husband, Bob, moved back home to Oklahoma in 1997 where they joined Henderson Hills Baptist Church after the first week they visited,knowing they had found the perfect church home under the teaching of Pastor Dennis Newkirk. He said he plans to be involved with the network in the future. As a guy who got riffed from the corporate world in 2011, my thoughts go out toall the Chesapeake employees who were affected by this layoff. More coverage: Chesapeake Energy, CEO part ways. He should be, as McKillips is personally being taken care of. Lawler has since remarried and has 8-year-old triplets, a 6-year old son and is expecting another daughter. April 27, 2021. WebRobert D. Doug Lawler has been President and Chief Executive Officer of Chesapeake Energy since June 2013. Zillow estimates the value at $4.39. Founded in 2010, the organization is designed to provide coaching, resources, educational and support services for single-parent families. See here for a complete list of exchanges and delays. Opinions expressed by Forbes Contributors are their own. Wichterich intends to continue in his role as Chair of the Board of Directors following the appointment of Chesapeakes new Chief Executive Officer. I knew I couldnt do it. Zillow estimates the value at $4.39. LIVE ON BLOOMBERG Join Facebook to connect with Doug Lawler and others you may know. our Subscriber Agreement and by copyright law. The ruling by Judge David R. Jones setthe stage for the company to rejoin a business world where it couldfreely operate once again. Chesapeake declined comment for this report. Theres one small caveat thoughexecutives will have to return 25% of their after-tax bonuses if the company does not emerge from Chapter 11 protection within a year. The building, which is owned by Oklahoma City and was opened in 2002, will continue to be called Chesapeake Energy Arena in the interim. We wish you the best of luckfinding a new job or becoming a full-time blogger. Chesapeake Energy and Doug Lawler arepartingways, the company announced Tuesday morning. Log in or sign up for Facebook to connect with friends, family and people you know. WebDoug Lawler has been President and Chief Executive Officer of Chesapeake Energy since June 2013. Lawler then began his life as a single parent. Mr. Lawler joined Continental in February 2022 as Chief Operating Officer and Executive Vice President following three decades in the oil and gas industry. Also, Chesapeake Energy announced it was able to successfully raise $1 billion of unsecured debt. What I would encourage you to do is buy the flowers, make the most of the moment, he said. We want to hear from you. The Oklahoma City energy pioneer made official in June 2020 what had been expected for some time, filing for bankruptcy protection in Texas. In late 2019, Chesapeake filed a going concern statement withfinancial regulators. Before joining Chesapeake, Mr. Lawler served as Senior Vice President of International and Deepwater Operations at Anadarko Petroleum Corporation and as a member of Anadarkos Executive Committee from July 2012 to June 2013. Mr. Lawler graduated from the Colorado School of Mines in 1988 and from Rice University in 2002. Ceo part ways moment, he said he plans to be involved with the surname include: Lawler... A 6-year old son and is expecting another daughter know the problems result! Lawler ( 19021959 ), American actor lawlerwas brought in to thecompany its... Flowers, make the most of the Lost Ogle conduct is presented by HOOT Industries the Smartest Fun Town... 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