NY pension fund urges no vote on Chesapeake directors

HOUSTON/NEW YORK (Reuters) - The head of New York's state pension fund urged shareholders of Chesapeake Energy Corp to withhold votes to re-elect two members of the natural gas producer's board. Chesapeake's board is under increasing fire from investors who want to see tougher oversight of Chief Executive Officer Aubrey McClendon. The company, in the midst of governance crisis, is also struggling financially as low natural gas prices take a toll. In a letter on Tuesday, New York State Comptroller Thomas DiNapoli said withholding votes from board members V. Burns Hargis and Richard K. ...

(Reuters) - The head of New York's state pension fund urged shareholders of Chesapeake Energy Corp to withhold votes to re-elect two members of the natural gas producer's board of directors. In a letter issued on Tuesday, New York State Comptroller Thomas DiNapoli said withholding votes from board members V. Burns Hargis and Richard K. Davidson was a "necessary first step toward reconstituting a board that is currently entrenched and unaccountable to shareholders." On Friday, activist investor Carl Icahn revealed he had taken a 7. ...

HOUSTON/NEW YORK (Reuters) - The head of New York's state pension fund urged shareholders of Chesapeake Energy Corp to withhold votes to re-elect two members of the natural gas producer's board.

HOUSTON/NEW YORK (Reuters) - The head of New York's state pension fund urged shareholders of Chesapeake Energy Corp to withhold votes to re-elect two members of the natural gas producer's board.

Aubrey McClendon will no longer be running Chesapeake Energy Corpcome April 1. But he is likely to remain deeply entangled with the company he founded 24 years ago.

(Reuters) - Top shareholders of Chesapeake Energy Corp on Monday grabbed more control of

A major Michigan landowner is suing Chesapeake Energy Corp and Encana Corp, alleging that the two energy giants colluded to rig bids for oil and gas rights in 2010. Northstar Energy, which owns nearly 10,000 acres in Michigan’s Utica-Collingwood oil and gas shale formation, filed the lawsuit against Chesapeake and Canadian firm Encana in Michigan federal court Friday.

The stock price of his energy company is down nearly 30%. The board stripped him of his chairmanship amid scandal. Today, his estimated billion-dollar personal fortune has shrunk by more than half. Aubrey McClendon, 53, endured a trying year running the second-largest natural gas producer in the United States, Chesapeake Energy Corp. But as corporate, state and federal probes into McClendon and the company continue, 2013 isn’t looking much easier.