Roundup: Chesapeake Energy board director named company's chairman; more
Chesapeake Energy selects chairman
Chesapeake Energy Corp., the top shale gas producer in Pennsylvania, appointed R. Brad Martin its chairman in place of Archie Dunham, the oil-industry veteran recruited three years ago to help turn around the beleaguered explorer.
Martin has been a Chesapeake director since June 2012. Dunham, 76, was named chairman emeritus and will retain his directorship, Oklahoma City-based Chesapeake said Monday.
Dunham, the former ConocoPhillips chairman, took over leadership of Chesapeake's board in 2012 amid a shareholder revolt that eventually led to the departure of co-founder and Chief Executive Officer Aubrey McClendon.
Martin is chairman of RBM Venture Co. and a retired chairman and CEO of Saks Inc. He's on the boards of FedEx Corp. and First Horizon National Corp.
“I am privileged to succeed Archie in this role and look forward to working closely with Doug Lawler, our CEO, the board of directors and our dedicated employees to create significant value,” Martin wrote in a statement.
Fiat Chrysler union members given 2 days to vote on contract
Fiat Chrysler Automobiles U.S.'s 40,000 union members will vote on a proposed contract Oct. 20 and 21 rather than stretch the balloting over more than a week, as was done in the recent failed vote, the United Auto Workers union said Monday.
UAW President Dennis Williams indicated Friday, when the union sent the tentative four-year contract to rank-and-file members for voting, that he wanted to give members more time to digest the deal before voting.
Fiat Chrysler UAW members on Oct. 1 rejected by a nearly 2-to-1 margin a four-year agreement reached by company and union negotiators in mid-September.
Former top banker at JPMorgan could be named CEO of Barclays
Barclays Plc is close to naming former top JPMorgan Chase & Co. banker Jes Staley its chief executive officer, according to a person with direct knowledge of the matter.
The U.K.-based bank told regulators that Staley is the frontrunner for the post, and his appointment could be announced within two weeks if it is approved, according to the source, who asked not to be identified because the decision isn't final. Kerrie Cohen, a spokeswoman for Barclays, declined to comment.
Staley spent 34 years at JPMorgan, rising from an investment banker in Brazil to run the firm's asset management and investment bank units. He once was considered a candidate to succeed Jamie Dimon as CEO.
Barclays Chairman John McFarlane is seeking to replace former CEO Antony Jenkins, whom he fired in July amid growing frustration with the pace of restructuring.
Wabtec acquires Track IQ
Wabtec Corp. said it acquired Track IQ, a manufacturer of sensor systems for the rail industry, for an undisclosed price.
Wilmerding-based rail products maker Wabtec said Monday that Track IQ, which is based in Australia and has offices in the United States and Europe, generates sales of about $15 million a year.
