Here's Why Shares of Chesapeake Energy Were Under Pressure Tuesday

Shares of Chesapeake Energy were under pressure Tuesday after two directors departed.
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Shares of Chesapeake Energy (CHK) - Get Report were under pressure Tuesday after two directors departed. Directors Vincent Intrieri and John Lipinski resigned, effective immediately. Lipinski had been an independent board member since June 2014. Intrieri has served on the board since 2012 -- he was appointed after activist investor Carl Icahn revealed a stake in Chesapeake and asked to replace four directors. Intrieri, who has served as senior managing director of Icahn Capital LP, filled one position. According to an SEC filing, the decision to resign by both men was not the result of any disagreement with the company. The departures come a week after the billionaire cut his stake in the company in half.

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