BY DANIEL GILBERT AND JOANN S. LUBLIN
Chesapeake Energy Corp. said Friday its board members will take a 20% pay cut and no longer have personal use of company aircraft, the latest move by the embattled natural-gas company to placate critics of its compensation and board oversight practices.
Meanwhile, Chesapeake directors are actively recruiting several prospects to become the company’s independent chairman, a person familiar with the situation said Friday.
“They have a couple people in mind” who the board members are approaching without using a search firm, the person said. “They will know in the next week or so if that is going to pan out.” …