Chesapeake (CHK) names Archie Dunham, former ConocoPhillips chairman and CEO, as its new...

Chesapeake (CHK) names Archie Dunham, former ConocoPhillips chairman and CEO, as its new independent non-executive chairman. The board also appoints four other new independent directors, three proposed by Southeastern Asset Management and one by Carl Icahn. Aubrey McClendon is no longer chairman but remains a director and will continue as CHK's CEO and President.

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Comments (7)
  • auto44
    , contributor
    Comments (3404) | Send Message
    This has got to be one of the greatest lessons in corporate governance ever to become public. Using stockholders as patsies, will it end or will it continue? Is the new bunch better or worse? Will the company be sold out to give Icahn a profit at his low entry price or will the companies assets be managed to make it the profit power house that it can become. Tune in tomorrow for the continuing story (soap opera). Will Aubrey come under control? Is the new board of professional board members on the side of the average share holders or is it a new group of can wringers?
    21 Jun 2012, 09:41 AM Reply Like
  • lutherwmitchell
    , contributor
    Comments (34) | Send Message
    I have taken the same thoughts.


    If you want a 44 automag - serial number 1 - I have it.
    21 Jun 2012, 11:26 AM Reply Like
  • HoeTamer
    , contributor
    Comments (186) | Send Message
    Party time is over Aubrey.
    21 Jun 2012, 09:43 AM Reply Like
  • NatGasGHshale
    , contributor
    Comments (90) | Send Message
    IMO...This is the 1st step to getting AM "weaned," before he sucked CHK dry...


    More "steps" will come...
    21 Jun 2012, 10:18 AM Reply Like
  • sanpace
    , contributor
    Comments (84) | Send Message
    Also, Chesapeake has named former Conoco head Archie Dunham as its new chairman. I think they are going in the right direction..!
    21 Jun 2012, 10:29 AM Reply Like
  • sanpace
    , contributor
    Comments (84) | Send Message
    The three independent directors from Southeastern Asset Management are not on "Carl Icahn's team"...?? He has one and will be great for the company as well. More good news rolls in every day for the share holders. $25 by summers end and back to $35 next year(min).


    I'm long on this one.
    21 Jun 2012, 10:33 AM Reply Like
  • wald22
    , contributor
    Comments (378) | Send Message
    Chk has 600,000 leases, controlling 9,000,000 acres and it drills about 2,000 wells a year. They got a full time job for the next 30 years, IF they could afford it. And there lies the problem. 2/3 of their 46,000 wells are uneconomic. CHK has only one option, sell the best and keep the rest, and hope some of the rest becomes some of the best. CHK shareholders have become CHK patsies, GS has a much worse name for shareholders. I would like to print it here but then my post would get removed. CHK has to downseize big time. They should be selling the worst instead of the best, but the worst has no sell value.
    21 Jun 2012, 02:03 PM Reply Like
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