18 maj: Bukowskis Contemporary rummer i år sublim international fotokunst
20 maj: Succesfuld emission for Vestjysk Bank
18-05-2012 23:51:00

UPDATE: Chesapeake Energy Cuts Directors' Compensation By 20%

Relateret indhold
Relateret debat
09 feb - 
ok- synes bare jeg genklendte navnet- det er peabody..:..
09 feb - 
Chesapeake Energy Corporation engages in the acquisitio..
09 feb - 
Mægler .... CHK producere shale gas og olie i USA, som ..

--Beleaguered natural-gas giant cuts directors' pay

--Directors' personal use on partially owned company aircraft is also banned

--Pay cut may not soothe investors' ire

(Adds comments from board member, analyst, updated share price, in the fourth, ninth and 10th paragraphs.)

By Ben Lefebvre

Of DOW JONES NEWSWIRES

HOUSTON -(Dow Jones)- Chesapeake Energy Corp. (CHK) Friday said it will cut total compensation for its board by 20%, the latest move by the beleaguered natural-gas giant to quell criticism over its corporate governance.

A series of revelations detailing possible conflicts-of-interest issues involving Chesapeake Chief Executive Aubrey McClendon has a brought fresh wave of criticism against the company and its board. Doubts about Chesapeake's governance, complicated finances and natural-gas prices near historic lows have cost Chesapeake billions of dollars in market value.

Annual pay for the nine board members will be cut immediately to $100,000 cash and $250,000 in company shares, the company said. Until now, the majority of board members had received total compensation of more than $500,000 a year, with Louis Simpson receiving nearly $600,000 a year in cash and stock awards, according to Chesapeake financial filings.

"We believe these latest changes to the directors' compensation will address concerns raised by shareholders and better align Chesapeake with its peers," said Merrill Miller, Chesapeake's lead independent director and chief executive of National Oilwell Varco Inc. (NOV).

The board also eliminated as a perk board member's personal use of aircraft partially owned by the company.

The changes did little to soothe analysts who have criticized the board as not practicing strong enough oversight of the company, the second-largest natural-gas producer in the U.S. In the latest example of shareholder anger, the custodian of a group of New York pension funds on Thursday called for a vote against the re-election of two board members, saying they failed to properly monitor McClendon in his use of personal stakes in company wells as collateral for loans from companies doing business with Chesapeake.

Meanwhile, S.A.C. Capital Advisors LP, Millennium Management LLC and other large hedge funds and investment-advisory firms have cashed out the majority of their stakes in Chesapeake since the first quarter.

The company's shrinking cash flow and reliance on borrowing have also spooked investors. Its stock has fallen 35.6% this year, settling at $14.36 on Friday.

"The company's problems run deeper than director compensation," Morningstar analyst Mark Hanson said.

Meanwhile, Chesapeake's search for an outside board chairman "is progressing," the company said. Last month, the board said it was stripping McClendon of his position as board chairman after a series of revelations detailing his taking loans from companies doing business with the natural-gas producer.

-By Ben Lefebvre, Dow Jones Newswires; 713-547-9201; ben.lefebvre@dowjones.com; Twitter: @bjlefebvre

(END) Dow Jones Newswires

May 18, 2012 17:51 ET (21:51 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Vestas vinder mølleordre i USA

21-02-2018 13:57:11
Vestas har fået en ordre på 50 megawatt (MW) i USA. Ordren er på V136-3,45 MW-møllen, der er optimeret til 3,6 MW.Den mølletype har siden oktober 2017 givet Vestas en samlet ordreindgang i USA på mere end 900 MW.Det oplyser Vestas i en meddelelse.Kontrakten med kunden, der har ønsket at være anonym, omfatter levering og installation samt idriftsættelse af møllerne, og der er også en flerårig servi..

Vestas henter italiensk ordre på 57 MW - NY

21-02-2018 11:18:47
Vestas har modtaget en bestilling på vindmøller med en samlet kapacitet på 57 megawatt (MW) til et projekt i Italien.Kunden er energiselskabet E.On.Det fremgår af en meddelelse onsdag formiddag.Ordren omfatter 19 styk V112-3,0 MW-møller, og kontrakten er resultatet af et udbud over italienske vindmølleprojekter, og det såkaldte Morcone-projekt, som møllerne skal bruges til, bliver et af de største..

Aktier/tendens: Vestas, Genmab og Mærsk kan komme i fokus

21-02-2018 08:29:48
En række analyseændringer på blandt andre Mærsk, Vestas og Sydbank kan komme til at spille ind på den danske aktieåbning onsdag, hvor investorerne kan se frem til en stribe regnskaber fra nogle af de mindre banker - og efter børslukketid fra C25-selskabet Genmab.Overordnet set tyder det på en næsten uændret åbning i Europa - måske med en tendens til marginale fald efter en lettere negativ drejning..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Aktier/tendens: Vestas, Genmab og Mærsk kan komme i fokus
2
Tirsdagens aktier: Varme Vestas trak C25 i spinkelt plus
3
Genmab: Darzalex-salget i USA steg med 6,2 pct. i januar
4
Vestas vinder mølleordre i USA
5
Mærsk/Sydbank: Aktionærer kan se frem til udbetaling i 2018 eller 2019

Relaterede aktiekurser

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2018  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
21. februar 2018 16:27:40
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20180219.1 - EUROWEB1 - 2018-02-21 16:27:40 - 2018-02-21 16:27:40 - 1 - Website: OKAY