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; [email protected]; 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
02/23/201709:06:00Chesapeake Energy Revenue Falls on Cheaper Energy Prices
02/23/201707:00:00Chesapeake Energy Corporation Reports 2016 Full Year And Fourth...
02/14/201707:00:00Chesapeake Energy Corporation Provides 2017 Guidance And Operational...
02/13/201719:39:00Chesapeake Energy Settles With Estate of Former CEO -- Update
02/13/201716:20:00Chesapeake Energy Settles With Estate of Former CEO
02/01/201707:00:00Chesapeake Energy Corporation Provides 2016 Fourth Quarter And...
01/20/201716:30:00Chesapeake Energy Corporation Reinstates Payment Of Quarterly...
01/13/201703:02:00Foundation Battles Over Pledge -- WSJ
01/12/201711:43:00Ronald Reagan Foundation Pursuing Aubrey McClendon's Estate
01/05/201707:00:00Chesapeake Energy Corporation Announces Final Results Of Cash...
01/05/201707:00:00Chesapeake Energy Corporation Announces Final Results Of Cash...
12/26/201618:01:00Key Metric Likely Won't Reflect Oil Rally
12/22/201616:00:00Chesapeake Energy Corporation Announces Redemption Of 6.5% Senior...
12/20/201607:00:00Chesapeake Energy Corporation Announces Early Results Of Cash...
12/20/201607:00:00Chesapeake Energy Corporation Announces Agreement To Sell Second...
12/17/201603:02:00Chesapeake Pins Its Rebound On Massive Wells -- WSJ
12/15/201616:05:00Chesapeake Energy Pins Rebound on 'Supersize' Gas Well
12/15/201607:00:00Chesapeake Energy Corporation Announces Appointment Of Luke R...
12/06/201620:51:00Chesapeake Energy Corporation Announces Pricing And Upsizing...
12/06/201608:04:00Chesapeake Energy Corporation Announces Cash Tender Offers For...

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US