Once the second-largest U.S. natural gas producer, Chesapeake filed for court protection last June, reeling from overspending on assets and a sudden decline in demand and oil prices spurred by the COVID-19 pandemic. It emerged from bankruptcy in February this year.
Lawler took the reins at Chesapeake in 2013 after the company’s wildcatter founder Aubrey McClendon stepped down amid investigations into possible antitrust violations. McClendon died in a car accident in 2016.
The company said on Tuesday its board chair Mike Wichterich will serve as interim CEO, while it searches for a permanent replacement.
(Reporting by Shariq Khan in Bengaluru; Editing by Shinjini Ganguli)