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Chesapeake Energy Corp.

SandRidge ousts CEO Ward, Bennett takes the helm

SandRidge Energy Inc's board of directors removed the energy company's founder and chief executive, Tom Ward, on Wednesday after a months-long struggle with activist investors who accused him of strategic mistakes and self-dealing at the expense of shareholders.Ward, who was also under fire for his high pay, will receive a severance payment of more than $90 million in cash and stock.The oil and gas company's board named its president, James Bennett, to replace Ward as CEO, citing a need for new leadership. Jeffrey Serota, a private equity executive at Ares Management, has been named interim nonexecutive chairman of the company, which is currently worth around $2.5 billion.Ward's termination at SandRidge follows the departure of Aubrey McClendon as chief executive at another Oklahoma City energy company, Chesapeake Energy Corp . The two men, who both faced allegations of governance problems at their companies, founded Chesapeake together in 1989.The SandRidge board said on Wednesday its...

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  12. Chesapeake says director Louis Simpson leaving

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  1. Chesapeake hires former SEC lawyer as compliance officer

    Chesapeake Energy Corp on Monday named as chief compliance officer a lawyer the oil and gas company had previously hired to respond to an investigation by the Securi...

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    Biltmore Capital Advisors CIO Tyler Vernon and Zacks.com Senior Equities Strategist Jared Levy on how investors can boost their portfolios.

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    Forest Laboratories Inc said on Tuesday it will add a representative of Carl Icahn as an independent member to its board, averting a new proxy battle with the billio...

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    Devon Energy Corp's latest bid to revive interest in its stock may take a page out of the activist investors' playbook, but Wall Street continues to look elsewhere f...

  5. Donating to Tornado Relief Efforts

    FBN’s Rich Edson on the corporate and individual donations to the tornado relief efforts in Oklahoma.

  6. Magnolia Petroleum Participating in 11 Wells in Oklahoma

    Magnolia Petroleum PLC (MAGP.LN), a U.S. onshore focused oil and gas exploration and production company, Tuesday said it is participating in eleven wells in Oklahoma...

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    FBN's Jo Ling Kent breaks down afternoon market news.

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