Michael P. McMasters was the CEO of Chesapeake Utilities Corporation from January 2011 until December 2018. He has a solid background in business, holding a Bachelor's degree in Business Administration. Before becoming CEO, he played several key roles within the...

Michael P. McMasters was the CEO of Chesapeake Utilities Corporation from January 2011 until December 2018. He has a solid background in business, holding a Bachelor's degree in Business Administration. Before becoming CEO, he played several key roles within the company, including President and Chief Operating Officer. His journey with Chesapeake began in 1997 as the Chief Financial Officer, showcasing a strong depth of experience across various leadership positions. McMasters has led the company through significant growth phases, focusing on performance-based executive compensation that aligns with company goals. Under his leadership, he saw compensation fluctuate from around $1.47 million in 2014 to about $1.90 million by 2017, with no bonuses in some years, reflecting the company’s focus on measurable outcomes. He retired after thirty-six years with the company, leaving a legacy of strategic planning and operational management. McMasters’ journey is one of steady progress and adaptation within a critical utility sector.