WHEN: TODAY, MONDAY, JUNE 18TH
WHERE: CNBC’S “CLOSING BELL WITH MARIA BARTIROMO”
Following is the unofficial transcript of breaking news from CNBC’s Kate Kelly. Following is a link to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000097045.
All references must be sourced to CNBC.
KATE KELLY: CHESAPEAKE ENERGY THE EMBATTLED COMPANY THAT IS SHAKING UP ALMOST ITS ENTIRE BOARD RIGHT NOW HAS NAMED OR HAS SORTED OUT WHO AT LEAST ONE NEW DIRECTOR WILL BE INSTEAD OF CARL ICAHN HIMSELF IT’S A SENIOR MANAGING DIRECTOR THAT WORKS FOR MR ICAHN VINCENT INTRIERI WHO ATTENDED THE COMPANY’S ANNUAL MEETING A COUPLE OF WEEKS AGO AND ACTUALLY MADE A SPEECH PRAISING CEO AUBREY MCCLENDON FOR BEING A GREAT MAN AND A GREAT ENTREPRENEUR BUT ESSENTIALLY SAYING EVEN GREAT ENTREPRENEURS NEED OVERSIGHT. ICAHN HAS BEEN VERY ACTIVE IN THIS STOCK OF LATE HE LOADED UP ON SHARES MARIA AS YOU MAY RECALL HAS ALREADY SEEN SOME NICE UPSIDE AND RESULTED IN SOME CHANGES IN CORPORATE GOVERNANCE THAT HE WANTED. ONE OF THOSE WAS HAVING A SEAT ON THE BOARD OF HIS SELECTION AND THEN OF COURSE THREE SEATS WILL BE LARGELY AT THE BEHEST OF SOUTHEASTERN ASSET MANAGEMENT. WE CAN EXPECT FURTHER DETAILS ON WHO SOUTHEASTERN ASSET MANAGEMENT IS GOING TO NAME AS WELL AS THEIR NEW DIRECTOR NO LATER THAN FRIDAY OF THIS WEEK MARIA.
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