Chesapeake names Anadarko executive as new CEO

OKLAHOMA CITY (AP) — Chesapeake Energy has named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO.

The appointment of the 46-year-old Lawler comes after a tough year for Chesapeake. Its former CEO Aubrey McClendon was ousted last year amid a scandal over his personal investments in the company's oil and gas wells.

Chesapeake shares rose 1.6 percent to $20.60 in premarket trading Monday.

Lawler is senior vice president for international and deepwater operations at Anadarko Petroleum. He also will join the Oklahoma City-based natural gas producer's board. The appointments are effective June 17.

Lawler is a petroleum engineer with 25 years of experience in the exploration and production industry.

McClendon, who founded Chesapeake Energy Corp. in 1989, was stripped of his role as chairman last year and left the company earlier this year.

Associated Press

Authors: provided on tsx today section of eStockMarkets

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S&P/TSX Composite Index

The TSX stock exchange defines an index as a statistical measure of the state of the stock market, based on the performance of certain stocks. The performance of the index is typically viewed as a broad indicator of the direction of the economy. Originally known as the TSE 300 the composite index was created in 1977, with a base level of 1000 as of 1975. Through the years the index consisted of a sample of 300 companies, though the companies that comprised the index varied from year to year. Stocks were dropped when they no longer met exchange requirements for size and liquidity.

Effective May 1st, 2002 the index has been managed by Standard & Poor's Corp. of New York. The name was changed from the TSE 300 to the S&P/TSX Composite Index. Along with the S&P branding came new rules. Tougher criteria for meeting size and liquidity standards were imposed and there is now no fixed number of companies in the index. Since May 2002 the number of companies has dropped from 300 to 212 as of November of 2003.

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