Category: Corporate governance

BNY Mellon appeals ruling on Chesapeake’s early bond call

Bank of New York Mellon Corp., the world’s biggest custody bank, is appealing a ruling allowing Chesapeake Energy Corp. (CHK) to proceed today with redeeming $1.3 billion in bonds six years early at 100 cents on the dollar.  More »

Hess to split roles of CEO and chairman

Hess Corp. will split the positions of CEO and chairman as it fights off a campaign by a major shareholder for a change in leadership at the New York energy company.  More »

Phillips 66 CEO: ‘By all metrics, we feel very good’

Phillips 66 CEO Greg Garland said he doesn’t expect the Keystone XL pipeline to gain U.S. approval this year and suggested regulators will need to “fix” requirements governing the blending of biofuels into gasoline. But Garland said neither of those issues are of serious concern to Phillips 66, which held its first shareholders meeting Wednesday.  More »

Murphy Oil Corp.’s president, CEO to step down

Longtime Murphy Oil Corp. executive Steve Cosse plans to step down and will be replaced by Roger Jenkins, executive vice president and chief operating officer, the company announced Monday.  More »

Occidental’s Irani out as investors end 3-decade rule

The vote against Ray Irani forces him to resign his board seat.  More »

War of words intensifies over Transocean board shakeup effort

Transocean said Friday that dissident shareholder Carl Icahn’s three nominees to serve on the company’s board are “captive to his misguided agenda” in a regulatory filing that stepped up the war of words between the Swiss drilling contractor and the billionaire investor.  More »

Shell CEO Peter Voser to retire in 2014

Royal Dutch Shell PLC said Thursday Chief Executive Peter Voser will step down in early 2014, and the company reported lower first-quarter profits in the wake of a decline in oil prices.  More »

India Group said top bid for $6 billion Mozambique gas

State-backed Oil & Natural Gas Corp. (ONGC) and Oil India Ltd. (OINL) are the leading joint bidders for the stake in a Mozambique gas field being sold by Anadarko Petroleum Corp. (APC) and Videocon Industries Ltd. (VCLF), three people with knowledge of the discussions said.  More »

Occidental to keep CEO through 2014

Future chairmen will be independent and former CEOs can’t assume the top board spot after they leave, the company said.  More »

Icahn’s Transocean board nominee faces pending criminal case in Spain

One of Carl Icahn’s three nominees to serve on Transocean’s board has been dogged for nearly a decade by a criminal complaint in Spain that accuses him of taking part in a multi-million dollar fraud against employees of a company where he used to be an executive.  More »

Noble Energy shifts leadership, organizational structure

Noble Energy is shifting its organizational structure to better support the growth it expects over the next few years, as well as to develop its leadership team.  More »

Two Exxon board members made more than $700,000 in 2012

Here’s how you can make hundreds of thousands of dollars off an oil company, without any oil industry experience: Become a member of Exxon Mobil Corp’s board of directors.  More »