Two Board Members Resign at Chesapeake Effective Immediately

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Following activist investor Carl Icahn’s recent divestiture of nearly half of his holdings in Oklahoma City-based Chesapeake Energy Corporation, the company disclosed the resignation of two board members.

Chesapeake filed a Form 8-K with the U.S. Securities and Exchange Commission on Tuesday which revealed the immediate resignation of Vincent J. Intrieri and John J. “Jack” Lipinski.

OK Energy Today reported on September 19 that the billionaire investor unloaded millions of shares in Chesapeake holdings allegedly for tax purposes.

Intrieri is intimately involved in Icahn’s business empire, having served as senior managing director of Icahn Associates Corp. since January 2005.

Through its filing, Chesapeake explained the resignations of Intrieri and Lipinski “were not the result of any disagreement with the Company on any matter relating to its operations, policies or practices.”

 

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