(Refiling to delete extraneous word 'publicized' in 4th
(Adds background, Dreman comments)
June 8 David Dreman, whose investment company
owns about 1 million shares in embattled natural gas producer
Chesapeake Energy Corp, said on Friday that Chesapeake
Chief Executive Aubrey McClendon should either resign or be
fired by the company's new board.
"When you see all the things that Aubrey McClendon has done
in the past years in increasing numbers, I don't think as
talented as he is he should be a member of Chesapeake anymore,"
Dreman told CNBC. "I think he should be - either resign or be
fired by the reconstructed board."
Dreman, chairman of Dreman Value Management LLP, also said,
"I wouldn't buy any more stock at this point."
McClendon has come under scrutiny since Reuters reported on
April 18 that he had borrowed $1.5 billion against stakes he
received in wells drilled by Chesapeake.
In a Reuters story on June 7 that addressed McClendon's
mingling of corporate and personal financial interests, Dreman
was quoted as saying, "I think McClendon should go."
"We knew bits and pieces, but when you put the story
together, I think in the last six weeks or so, we know an awful
lot more," Dreman told CNBC, adding that the company is
"struggling" with billions of dollars of debt.
Chesapeake's annual meeting with shareholders takes place on
Friday at the company's grounds in Oklahoma City.
(Reporting by Sam Forgione; Editing by Gerald E. McCormick and