Vincent Intrieri will represent billionaire activist investor Carl Icahn, who owns 7.6% of the company. At the company’s recent shareholder meeting, Intrieri said CEO Aubrey McClendon was a “great oil and gas man,” but noted that even “great executives need vigilant oversight.”
Mr. Intrieri is a senior managing director of Icahn Capital LP and a director at Dynegy Inc. and CVR Energy Inc., where Mr. Icahn holds significant and controlling stakes, respectively. The moves mark a dramatic shift from Chesapeake, which for years had resisted board-level change. But shareholders have ratcheted up pressure on the company as sinking natural-gas prices, coupled with aggressive spending and high debt, have created what some analysts call a liquidity crisis.
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