Reuters: Regulatory News: Chesapeake investor calls for management "clean up"

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Chesapeake investor calls for management "clean up" Apr 18th 2012, 20:11 April 18 | Wed Apr 18, 2012 4:11pm EDT April 18 (Reuters) - Chesapeake Energy Corp's management and board of directors should be "cleaned up" to eliminate any appearance that Chief Executive Officer Aubrey McClendon has a conflict of interest, a major shareholder in the company said on Wednesday. A Reuters report that Chief Executive Aubrey McClendon borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells helped push the shares down. They closed down 5.5 percent at $18.06 per share. "I think the company has to be more professional," said David Dreman, chairman of Dreman Value Management LLP, which owns about 1 million shares of the company. "I think that the whole management and the board of directors has to be cleaned up. We're obviously very unhappy with the situation as it is now."

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions