Sep 29 (Businesshala) – US shale maker Chesapeake Energy Corp is preparing to name longtime finance chief Domenic Dell’Osso Jr. as its next top executive, according to three people familiar with the matter.
People said Dell’Osso, who has been with the company since 2008, will replace board chairman Mike Wichrich, who became interim CEO in April after ousting former chief Doug Lawler.
A Chesapeake spokesperson declined to comment.
Chesapeake, one of the largest natural gas producers in the United States, this year emerged from a Chapter 11 bankruptcy reorganization in which it cut $7 billion in debt. Last month, it agreed to buy Louisiana natural gas rival Vine Energy for $615 million in cash and stock.
The company has faced an exodus of executives under Wichterich, including its general counsel, vice president of exploration and production, and chief accountant.
Dell’Osso is one of the few long-serving executives to remain after Lawler’s departure. He previously worked with Jefferies & Company as an investment banker (Additional reporting by Shariq Khan in Bengaluru; Editing by David Gregorio)