James Webb replaces Henry Hood as Chesapeake Energy Corp.’s top legal counsel

James Webb, a trial lawyer who worked for 17 years at the Oklahoma law firm McAfee & Taft, has replaced Henry Hood as Chesapeake Energy Corp.’s top lawyer as the company works to "recover from damaging reports" about controversial land deals in Michigan as well as controversial personal loans taken out by CEO Aubrey McClendon, Reuters reports (See the June 25, 2012, blog – “Reuters reports that Chesapeake Energy and Encana Corporation may have violated antitrust laws to keep land prices from escalating”). Hood, who will retain a position as senior vice president of Chesapeake’s land and regulatory departments, was replaced after six years when the board rebuked his claim that they were “fully aware of the existence of Mr. McClendon’s financing transactions,” the article said (See the Apr 30, 2012, blog – “Chesapeake Energy to review and change McClendon’s financial arrangements”).