Michael Wichterich is the Executive Chairman of Chesapeake Energy Corporation, a major player in the oil and natural gas industry. After stepping in as Interim CEO in early 2021, he took on the role of Executive Chairman in October. His...

Michael Wichterich is the Executive Chairman of Chesapeake Energy Corporation, a major player in the oil and natural gas industry. After stepping in as Interim CEO in early 2021, he took on the role of Executive Chairman in October. His leadership style focuses strongly on aligning the interests of the company with its shareholders, ensuring ethical practices and solid governance. In 2021, his total compensation was over $900,000, which showed a mix of salary and stock options, reflecting his investment in the company's future. He received restricted stock units that are set to vest over three years, aligning his interests with long-term success. Interestingly, he doesn’t get bonuses, which indicates he prefers a straight-forward approach to leadership where results matter more than incentives. Wichterich is known for his background in finance and management, serving in various roles in the energy sector before this position. By the end of 2022, he transitioned back to focusing solely on Board matters, reshaping the future of Chesapeake while keeping a close eye on its performance metrics. His experience in guiding companies through transitions brings a depth of knowledge to the table, which companies and shareholders greatly benefit from.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Chesapeake Energy Corporation CEOs

C

Michael Wichterich

Ex-CEO of Chesapeake Energy Corporation

Education

Not specified

Field of Expertise

Business & Management

Sector of Economy

Energy

Born

January 1, 1961 - 64 years ago

CEO of Chesapeake Energy Corporation for

0 years 5 months (Apr 2021 - Oct 2021)

Previous Experience

Chair of the Board and various roles in the energy sector

Rivals

Competitors/colleagues of Michael Wichterich

Holdings

See how much did Michael Wichterich make over time.

Michael Wichterich has shown a strong financial commitment to Chesapeake Energy through his substantial equity holdings. As of recent data, he had approximately 7,327 vested restricted stock units, with a market value around $691,449 based on the company's performance. His...

Michael Wichterich has shown a strong financial commitment to Chesapeake Energy through his substantial equity holdings. As of recent data, he had approximately 7,327 vested restricted stock units, with a market value around $691,449 based on the company's performance. His stocks include both performance shares and units that vest over time, with an eye toward long-term growth. There was a notable increase in his holdings around his appointment as Executive Chairman, as he tied his success directly to shareholder returns. Although he does not currently receive bonuses, his investments in stock options reflect a significant portion of his wealth in company performance. This long-term view helps to ensure his interests are aligned with the shareholders. His holdings today continue to represent a critical part of his wealth, showcasing his confidence in Chesapeake Energy's direction and potential.

No data yet.

Insider Trading

See recent insider trades of Michael Wichterich.

CHK

$350.05K

CHK at $89.55/share

Jun 6, 2024

Received

CHK

$350.01K

CHK at $79.17/share

Jun 8, 2023

Received

CHK

$421.33K

CHK at $84.27/share

Jun 24, 2022

Purchase

CHK

6,314 shares

CHK

Mar 15, 2022

Received

CHK

1,520 shares

CHK

Oct 11, 2021

Received

CHK

1,520 shares

CHK

Oct 11, 2021

Received

CHK

$545.68K

CHK at $43.71/share

Feb 22, 2021

Received

Compensation History

See how much did Michael Wichterich make over time.

In 2021, Michael Wichterich reported total compensation exceeding $900,000, a figure that comprised a base salary of $650,000 and additional value from vested stock units. Notably, he opted out of the annual bonus program, emphasizing his focus on long-term corporate performance rather than quick gains. Being appointed as Executive Chairman came with an annual equity award valued at about $2 million, designed to tie his success to the company's performance metrics over time. His compensation strategy reflects a commitment to attract, retain, and reward top talent while ensuring a sustainable growth trajectory for Chesapeake Energy. This hands-on leadership approach allows him to maintain a strong financial connection to the company, ensuring that shareholders' interests are always front and center.

Year

2021

Total Compensation

$747.55K

Salary

$650.00K

Board Justification

The compensation philosophy aims to attract, retain, and reward top talent while ensuring alignment between executive compensation and performance metrics that drive shareholder value.

Bonus

$0.00

Board Justification

Michael Wichterich did not participate in the Annual Incentive Plan for 2021 as he was appointed as Executive Chairman in October 2021.

Other

$2.55K

Board Justification

Other compensation includes cash retainer for service as a non-executive director and other benefits.

Restricted Stock

$95.00K(1.52K RSU)

Board Justification

1,520 Restricted Stock Units (RSUs) were granted on October 11, 2021, which vest one-third on each of October 11, 2022, 2023, and 2024.

Performance Metrics

Performance metrics for executive compensation are tied to the company's financial performance, including free cash flow generation and ESG goals.

Other Chesapeake Energy Corporation CEOs

Here are other CEOs of Chesapeake Energy Corporation

Robert D. Lawler

Ex-CEO of Chesapeake Energy Corporation

June 2013 - April 2021

Domenic J. Dell’Osso, Jr.

CEO of Chesapeake Energy Corporation

October 2021 - Present