OREANDA-NEWS. Chesapeake Energy Corporation (NYSE:CHK) announced today that R. Brad Martin has been appointed non-executive Chairman of the Company's Board of Directors, effective immediately. As part of the transition, Archie W. Dunham will remain a director and has been named Chairman Emeritus.

Dunham commented, "Chesapeake will benefit from Brad's unique insight and extensive business experience as he serves in his new role as Chairman of the Board. Chesapeake has a bright future, given its exceptional portfolio, operations, and management team. With all the meaningful changes we have made at Chesapeake over the past three years, significant opportunities lie ahead."

Martin, Chairman of RBM Ventures and Retired Chairman and CEO of Saks Incorporated, was appointed to Chesapeake's Board of Directors in June 2012. He also serves on the Board of Directors of FedEx Corporation and First Horizon National Corporation. He holds an undergraduate degree from the University of Memphis and an MBA from Vanderbilt University. Martin has also served as Interim President of the University of Memphis.

Martin added, "All of us at Chesapeake are grateful to Archie Dunham for his solid leadership in developing a strong foundation for Chesapeake during his tenure as Chairman. I am privileged to succeed Archie in this role and look forward to working closely with Doug Lawler, our CEO, the Board of Directors, and our dedicated employees to create significant value."

Chesapeake Energy Corporation (NYSE:CHK) is the second-largest producer of natural gas and the 12th largest producer of oil and natural gas liquids in the U.S. Headquartered in Oklahoma City, the company's operations are focused on discovering and developing its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the U.S. The company also owns substantial marketing and compression businesses.