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Chesapeake - Secret Hedge Funds And Secret Loans For The CEO - The Board Is Asleep Near The Wheel

May 07, 2012 5:20 PM ETAQ
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Seeking Alpha Analyst Since 2010

Chris Roberts New York City, United States Chris Roberts is a fee only financial advisor in the upper east side of Manhattan.

The failure to even pretend to pay attention to their fiduciary duty multiple times is glaring and highly disturbing, if not outright illegal.

Who is on this board?

Aubrey McClendon - CEO and until recently Chairman of Chesapeake Energy

Richard Davidson - no other public board activity

Kathleen Eisbrenner - no other public board activity

V Burns Hargis - Vice Chairman, Bank of Oklahoma (BOKF)

Frank Keating - Advisory director to Stewart Information Services Corporation (STC) and the CEO of the American Bankers Association. It should be noted that he is ***not*** part of the Keating 5 scandal.

Charles Maxwell - Director at American DG Energy (ADGE) and some firms on the Pink Sheets.

Merrill Miller Jr - Chairman and CEO National Oilwell Varco (NOV)

Don Nickles - Director at Valero (VLO)

Lou Simpson - Also Director at SAIC (SAI) and VeriSign (VRSN). I am surprised to see a colleague of Warren Buffett on this board - I would hope that there's more to this part of that story.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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