ADVFN - Advanced Financial Network.
HOME» NYSE » C » CHK Stock Price » CHK Stock News

Chesapeake Share News

 Chesapeake Energy Corp. Stock Price
CHK Stock Price
 Chesapeake Energy Corp. Stock Chart
CHK Stock Chart
 Chesapeake Energy Corp. Stock News
CHK Stock News
 Chesapeake Energy Corp. Company Information
CHK Company Information
 Chesapeake Energy Corp. Stock Trades
CHK Stock Trades

Chesapeake Energy Investor Urges Management Overhaul

By Ben Lefebvre Of DOW JONES NEWSWIRES HOUSTON -(Dow Jones)- A major shareholder in Chesapeake Energy Corp. (CHK) urged a vote of no confidence against two company board members up for re-election next month, the latest volley in a war of words between the natural-gas producer and its own investors. Chesapeake's relationship with investors has come to a head in the wake of revelations that co-founder and Chief Executive Aubrey McClendon received up to $1.4 billion in loans from companies doing business with Chesapeake. Some shareholders also fear the company is too dependent on debt as it refocuses its production to oil instead of natural gas, prices of which reached a decades low in April. New York State Comptroller Thomas DiNapoli in a letter to fellow shareholders said that an overhaul of company management is required to turn around Chesapeake, the largest natural-gas producer after Exxon Mobil Corp. (XOM). The Oklahoma City-based company has lost nearly $1.5 billion in market capitalization since mid-April amid low natural-gas prices and loss of confidence in the company's leadership. "I am pained to watch our investment free-fall as shares plummet to lows not seen even during the recent financial crisis," DiNapoli said in a letter to shareholders. "Since only two directors are up for re-election this year, our withold votes...should be viewed as a proxy for the performance of the entire board." DiNapoli follows proxy advisor firms ISI and Glass, Lewis in advising a "withold" vote against the two Chesapeake board members up for re-election, basically a vote of no confidence. Activist investor Carl Icahn, who announced Friday a 7.6% stake in the company, is seeking to replace four board members. The New York Comptroller Office holds 3.5 million shares in Chesapeake. Chesapeake has said it stands by its board, which last month implemented a 20% cut in its total compensation and has promised to replace McClendon as board chairman. -By Ben Lefebvre, Dow Jones Newswires; 713-547-9201; ben.lefebvre@dowjones.com; Twitter: @bjlefebvre Order free Annual Report for Chesapeake Energy Corp. Visit http://djnweurope.ar.wilink.com/?ticker=US1651671075 or call +44 (0)208 391 6028

Stock News for Chesapeake (CHK)
DateTimeHeadline
04/24/201517:35:21Chesapeake to Pay $25 Million to Settle Michigan Charges
04/24/201510:52:30Chesapeake Energy PT Lowered to $13.00 at Jefferies Group (CHK)
04/22/201503:34:40Chesapeake Energy Receives New Coverage from Analysts at Nomura...
04/19/201510:18:035 Megatrends in Energy
04/15/201515:05:15How to Make a Portfolio of Natural Gas Stocks
04/15/201514:30:02How to Make a Portfolio of Natural Gas Stocks
04/15/201510:57:49A New Twist For Aubrey McClendon
04/15/201503:16:22Aubrey McClendon's Financier Settles Lawsuit With Chesapeake...
04/14/201516:01:00Chesapeake Energy Corp. Announces Release Date & Conference Call...
04/13/201519:33:15Priced To Imperfection: Natural Gas Undervalued And Poised To...
04/12/201503:18:23Why Chesapeake Energy Is A Buy For The Long Term
04/10/201510:25:133 Reasons Why Chesapeake Energy Corporationâs Stock Plunged 1...
04/09/201519:21:20Study finds rising radon levels in Pennsylvania homes amid fracking...
04/07/201516:01:00Chesapeake Energy Corporation Appoints Kimberly K. Querrey to...
04/06/201506:04:01Insider Weekends - April 3, 2015
04/04/201509:00:02The Biggest Mergers and Acquisitions in Natural Gas Stocks
04/02/201509:34:30Chesapeake Energy Gets No Love, Except From An Insider
04/02/201502:40:47First Quarter Large Cap Winners And Losers
04/01/201514:58:21Earthquake Case Could Doom Fracking in Oklahoma
04/01/201509:10:34Chesapeake chairman buys 1M shares worth nearly $14M

Chesapeake Energy and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad