Environment, Education, Energy: Policy to People

“SandRidge CEO Tom Ward Ousted, Bennett Takes Job”

The Oklahoma company’s board said its internal probe of Ward’s transactions didn’t merit a “termination for cause,” so he left with a severance package worth more than $90 million, Reuters reports.

The company, based in Oklahoma City, Oklahoma, has been under fire since last year from TPG-Axon and another hedge fund for governance lapses and strategic missteps. TPG-Axon also alleged that Ward and the company’s board improperly allowed WCT Resources, an Oklahoma company run by Ward’s son, Trent, to acquire the rights to drill for oil and gas near SandRidge operations.

Read more at: www.reuters.com

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