Aubrey K. McClendon, the CEO of Chesapeake Energy (NYSE: CHK), was punished for transactions which allowed him to invest in every well the company drilled. The firm’s board did not care about the arrangement until the press and some investors began to criticize it. McClendon will lose his job as chairman and the board will look for a replacement.
McClendon will probably be gone entirely before that person is picked. The pressure on the board to fire McClendon altogether is relentless. The board was complicit in McClendon’s good fortune. That will not stop its members from doing what is necessary to salvage their reputations.
The easiest way to do that is to identify McClendon as a cancer which will affect Wall St.’s opinion of Chesapeake as long as he is there.
Douglas A. McIntyre
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.