{"id":13083,"date":"2013-02-28T13:48:28","date_gmt":"2013-02-28T19:48:28","guid":{"rendered":"http:\/\/stateimpact.npr.org\/oklahoma\/?p=13083"},"modified":"2013-02-28T13:48:28","modified_gmt":"2013-02-28T19:48:28","slug":"chesapeake-corporate-governance-bill-sent-to-governor","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/oklahoma\/2013\/02\/28\/chesapeake-corporate-governance-bill-sent-to-governor\/","title":{"rendered":"Chesapeake Corporate Governance Bill Sent to Governor"},"content":{"rendered":"<div id=\"attachment_13084\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"Chesapeake Energy's Oklahoma City headquarters.\" href=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2013\/02\/chk-campus.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-13084\" title=\"Chesapeake Campus\" src=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2013\/02\/chk-campus-300x199.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a><\/p>\n<p class=\"wp-media-credit\">Joe Wertz \/ StateImpact Oklahoma<\/p>\n<p class=\"wp-caption-text\">Chesapeake Energy&#39;s Oklahoma City headquarters.<\/p>\n<\/div><p>A new corporate governance law sought by Chesapeake Energy now awaits Gov. Mary Fallin\u2019s signature.<\/p><p>Final approval from the state Legislature came Wednesday. The measure \u2014 House Bill 1646, authored by Rep. Fred Jordan, R-Jenks \u2014 <a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2013\/01\/22\/state-legislation-filed-to-change-chesapeake-corporate-governance-law\/\">reverses<\/a> 2010 legislation that mandated staggered elections of directors at certain public companies, a corporate governance strategy designed to prevent a boardroom takeover.<\/p><p>Chesapeake Energy helped write the 2010 law, which didn\u2019t protect it from a boardroom shakeup. <a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2012\/06\/08\/declassified-chesapeake-wants-relief-from-an-oklahoma-law-it-helped-write\/\">Chesapeake pushed to reverse the law<\/a> because the energy company\u2019s new directors \u2014 and many of its shareholders \u2014 want annual board member elections, a structure in place at most of Chesapeake\u2019s corporate peers.<\/p><p><!--more-->The Oklahoma City company\u2019s new directors have threatened to reincorporate in Delaware if the law isn\u2019t reversed.<\/p><p>At least two other companies, ONEOK and OG&E, were unintentionally affected by the 2010 law, a situation lawmakers remedied last year with a legislative fix.<\/p><p><a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2013\/02\/12\/house-passes-new-corporate-governance-law-for-chesapeake-energy\/\">Despite a little acrimony<\/a> from Rep. Cory Williams, D-Stillwater, HB 1646 received overwhelming support from lawmakers voting in the state House and Senate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new corporate governance law sought by Chesapeake Energy now awaits Gov. Mary Fallin\u2019s signature.Final approval from the state Legislature came Wednesday. The measure \u2014 House Bill 1646, authored by Rep. Fred Jordan, R-Jenks \u2014 reverses 2010 legislation that mandated staggered elections of directors at certain public companies, a corporate governance strategy designed to prevent [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":13084,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[490],"tags":[275,238],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/13083"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/comments?post=13083"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/13083\/revisions"}],"predecessor-version":[{"id":13087,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/13083\/revisions\/13087"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media\/13084"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media?parent=13083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/categories?post=13083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/tags?post=13083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}