R. Brad Martin was appointed non-executive chairman of the board at Chesapeake Energy Corp. (CHK), the company said Oct. 12. His role is effective immediately.

Archie W. Dunham will remain as a director, and is now Chairman Emeritus.

Martin is currently chairman of RBM Ventures and a retired chairman and CEO of Saks Inc. He was appointed to Chesapeake’s board in June 2012, the company added. He is also on FedEx Corp.’s board of directors, and on the board of First Horizon National Corp.

He has a bachelor’s degree from the University of Memphis and a master’s of business administration degree from Vanderbilt University. Martin also served as interim president of the University of Memphis.

"All of us at Chesapeake are grateful to Archie Dunham for his solid leadership in developing a strong foundation for Chesapeake during his tenure as chairman. 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 said.

Chesapeake Energy Corp. is based in Oklahoma City.