Chesapeake Energy (CHK -1.2%) shareholders fail to approve a proposal to declassify the company's board of directors, a step that would have made it easier to replace the entire board all at once. The board actually had supported a change which would have eliminated the current board structure, where each of the eight directors serves a staggered three-year term.
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Wunderlich Securities Sees Chesapeake Energy Staying Aggressive On Spending Front Given Ample Cash Balanceat Benzinga.com (Thu, 7:30AM)
The Wall Street Journal: Chesapeake Energy cuts rig operations after disappointing quarterly resultsat MarketWatch.com (Wed, 1:53PM)
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