V. Burns Hargis has resigned from the board of directors at Chesapeake Energy Corp. (NYSE:CHK), effective immediately. Louis A. Raspino has been elected to fill the vacancy and has been appointed chairman of the audit committee. He will stand for election at the 2013 annual meeting of shareholders in June.
Raspino’s career has spanned almost 40 years, most recently as president and chief executive officer of oil and gas drilling company Pride International Inc. (NYSE:PDE) until Pride’s merger with Ensco plc in May 2011.
He started his corporate career in 1978 with The Louisiana Land & Exploration Company (NYSE:LLX), where he rose to the level of SVP/CFO and member of the Office of the Chairman. Raspino helped lead the company’s strategic transformation – including numerous acquisitions and divestitures – that ultimately enabled a merger in 1997 with Burlington Resources (NYSE:BR). After serving as vice president of finance for the Halliburton Company (NYSE:HAL), he then became senior vice president and CFO of Grant Prideco Inc. (NYSE:GDP) in 2000. He was named senior vice president and CFO of Pride in 2003 and was promoted to president and CEO in 2005. He began his career in 1973 as a Certified Public Accountant with Ernst & Young, advising clients in the energy, financial and public utility sectors.
He serves on the boards of two other public companies, Dresser Rand Corporation. (NYSE:DRC) since 2005, where he is chairman of the compensation committee and a member of the audit committee, and in 2012 he became an investor in and board member of Forum Energy Technologies (NYSE:FET), where he serves on the nominating, governance and compensation committee. He also served on Pride’s board until its merger with Ensco plc.
He earned a Bachelor of Science degree from Louisiana State University, New Orleans, and a Master of Business Administration degree from Loyola University. He has remained a Certified Public Accountant since 1973.