Friday, June 8, 2012

Reuters: Private Equity: Chesapeake shareholder Dreman wants McClendon out

Reuters: Private Equity
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Chesapeake shareholder Dreman wants McClendon out
Jun 8th 2012, 14:35

June 8 | Fri Jun 8, 2012 10:35am EDT

June 8 (Reuters) - David Dreman, chairman of Dreman Value Management LLP, which owns about 1 million shares in embattled natural gas producer Chesapeake Energy Corp, told CNBC on Friday that Chesapeake Chief Executive Officer Aubrey McClendon should either resign or be fired by the company's new board.

"When you see all the things that Aubrey McClendon has done in the past years in increasing numbers, I don't think as talented as he is he should be a member of Chesapeake anymore. I think he should be - either resign or be fired by the reconstructed board."

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