Carl Icahn Comments on McClendon Departure at Chesapeake Energy (CHK)

January 29, 2013 6:14 PM EST
Carl Icahn issued a statement after Chesapeake Energy Corporation (NYSE: CHK) announced that its Co-founder, Chief Executive Officer and President, Aubrey K. McClendon, has agreed to retire from the company on April 1, 2013.

Carl Icahn Statement:

New York, New York, January 29, 2013: Chesapeake Energy Corporation today announced the retirement of Aubrey K. McClendon, its Co-Founder, Chief Executive Officer and President.

In response to press inquiries regarding the announcement, Carl C. Icahn stated
as follows:

Aubrey has every right to be proud of the company he has built, the world class team of people at Chesapeake and the collection of assets he has assembled, which in my opinion, are the best portfolio of energy assets in the country.

While it is known that some of these assets will be sold by the company in due course, I do not believe that this will in any way effect the ultimate realization of Chesapeake’s potential.

I am confident that history will prove that Aubrey has been correct about the value of natural gas in general and the value of Chesapeake in particular.

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