Activist investor seeks to unseat three Weatherford board members

One of Weatherford International’s largest investors is attempting to unseat three members from the troubled oil-field service company’s seven-member board of directors.

New York investment management firm and activist investor D.E. Shaw Group, which holds Weatherford’s bonds and 3.5 percent of the company’s shares, said Monday it will try to remove Weatherford board Chairman Thomas Bates and members John Glick and Gordon Hall at the company’s shareholder meeting June 12.

Source: Houston Chronicle