On April 1, implementation plan, leave message boost the company's stock 9%. Last spring, because the value of it is lost almost half after Reuters reported opened company, and strictly review its co-founder, the company's share price has been part of the recovery.
Federal regulators and Chesapeake company's board of directors to find whether an McKellen, 53 years old, and his personal trading company becomes blurred the line between, and a possible violation of antitrust. At 6 months, he was stripped of his title as chairman in 1989 he co-founded company, big shareholder control of the board of directors.
Internal counsel, causing McKellen's start is not clear. Next month published survey of the board of directors of the probe, but, Chesapeake said in a statement, review "has not found any improper behavior."
"I think already pull litre dispute, management, and other areas of issue has caused a lot of questions about him," David raquel said, accounting professor at Stanford university graduate school of business. "This is just absorb so much time, it must be a reasonable decision, change management."
Chairman archie's DengNa on Tuesday night and had no comment. Conocophillips (COP. N) before the person in charge to quell the shareholder revolt.
Bet big gas company controller, McKellen's played a key role in promoting, hydraulic fracturing technology, solve the huge shale formation, now prices products.
He left the news just over two weeks later, the Canadian energy company CEO Randy Eresman (ECA. TO) said he will step down immediately.
Last June, Reuters reported, Chesapeake planning and EnCana company, its main competitors, restrain the land price in colin wood's subject is in Michigan and the justice department investigation, whether in northern Michigan shale.
Reuters April survey found McKellen's has arranged for a personal loan to more than 100 million yuan, from, EIG global energy cooperation partners, a company, is also a big investors in the Chesapeake.
A mortgage loan, arrange McKellen's personal shell company, he is interested in the company well. An McKellen is allowed, and Chesapeake drill in each a controversial plan called founder involvement (FWPP) take 2.5% of the shares.
"Empire, he established based on far higher than the gas prices, to Chesapeake and for him through the founder well involvement. So given, prospects, it is not a surprise he is standing on down," said mark hanson, oil and natural gas in Chicago morning star company's analysts.
"In one day is over, this is no longer company, it used to be. The board of directors is really not with him these days. If you do work in some way for 23 years, and then a sudden things change for fundamentally as they have in the past six months, it is difficult to habits."
The main investors Karl Icahn (Carl Icahn), there is now a Chesapeake nearly 9% of the shares, and mason Hawkins, 13.5%, control the last June of the nine members of the board of directors.
Starting in about one hour and a half of the news in a statement released, icahn said he believe that history will prove that, McKellen's the ultimate value of natural gas is correct, and praise former CEO assembly assets.
"It is understood that the these assets will be sold the company at the right time, I don't believe this will eventually realize as affecting in any way, Chesapeake potential," icahn said.
Chesapeake has been forced to sell billions of dollars worth of planting area, but DengNa mu (Tuesday) to employees in the memo said. "the company is not for sale."
Chesapeake's stock market trading, from the New York stock exchange over $18.97, $20.69. The company's share price is from high above $26 March of last year, before gas prices to ten year lows, McKellen's become a object so many terrible publicity.



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