SAN FRANCISCO (MarketWatch) -- Chesapeake Energy Corp. board of directors said Wednesday a review of Chief Executive Officer and President Aubrey McClendon business dealings did not find "any improper benefit" to McClendon or increased company costs. The transactions under review included deals involving EIG Global Energy Partners, trading activities of a hedge fund McClendon had co-founded, and a loan to McClendon by a board member. McClendon, who faced criticism about meshing personal and company transactions, earlier this year agreed to retire April 1. The natural-gas producer said the decision to search for a new chief executive was not related to the review. The company also said Wednesday its board of directors concluded it did not violate antitrust laws following the acquisition of Michigan oil and gas rights in 2010. Chesapeake in June received notice of a Department of Justice investigation and has been responding to it in addition to conducting its own investigation, the company said. Shares of Chesapeake turned higher in early trading, up 0.3% on a day nearly all energy stocks were in the red.
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