|  | | 2012 News and Press Releases | | |
HEADLINE NEWS:
Hedge Fund Calls For Chesapeake Energy CEO Exit
Svea Herbst-Bayliss and Laurence Fletcher
Reuters. May 14, 2012
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EXCERPT: Pressure on Chesapeake Energy Inc's embattled chief executive increased on Monday as a small London hedge fund urged the company's board to terminate Aubrey McClendon, while a well-known activist investor was reported to be building a position in the company. London-based Noster Capital sent an open letter to Chesapeake's board on Monday asking the No. 2 U.S. natural gas producer to remove McClendon as details of his financial dealings emerge. Chesapeake has been caught in a corporate governance controversy since Reuters reported last month that McClendon had mortgaged his personal stakes in the company's oil and gas wells to companies that had lent money to the company. |
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