Monday, May 14, 2012

Chesapeake Board Called on to Fire McClendon $CHK

Also now being rumored that Icahn has built up a significant position.

I would additionally like to call on shareholders to fire the entire Board of Directors since they have ok'd everything McClendon has done up to this point.

A leading fund manager called on the board of Cheasapeake Energy to fire its chief executive on Monday after it revelations that he had taken $1.1 billion in personal loans against his stakes in the energy company.
In an open letter to the board of directors, Pedro de Noronha, managing partner and portfolio manager at Noster Capital, said Aubrey McClendon should be fired with immediate effect and that other CEOs would have been removed for “far lesser infraction[s]”.

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