SandRidge shareholder calls for new directors
BY ADAM WILMOTH
Thursday, December 27, 2012
12/27/12 at 3:05 AM
OKLAHOMA CITY - One of SandRidge Energy's largest shareholders called Wednesday for fellow investors to oust the company's directors and submitted its list of proposed directors.
TPG-Axon Capital Management LP is seeking to amend the company's bylaws and replace the current directors with a new slate of its choosing.
Officials of Oklahoma City-based SandRidge Energy Inc. declined to comment.
SandRidge last week said it set the consent date as Dec. 21 and that votes on the TPG-Axon proposal must be cast within 60 days. TPG-Axon on Monday filed suit in a Delaware Chancery Court challenging the date, saying the 60-day period should begin after the U.S. Securities and Exchange Commission approves the paperwork it filed Wednesday.
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New board members proposed
SandRidge shareholder TPG-Axon wants SandRidge's directors ousted and replaced with a panel of its choosing. Following are the proposed new directors:
Stephen C. Beasley, 61, founder and CEO of Houston-based investment firm Eaton Group Inc. and former president of El Paso Corp.'s Eastern Pipeline Group.
Edward W. Moneypenny, 70, retired senior vice president of finance and chief financial officer of 7-Eleven Inc. He is also former executive vice president of finance and chief financial officer of Covanta Energy Corp.
Fredric G. Reynolds, 62, retired executive vice president and chief financial officer of CBS Corp.
Peter H. Rothschild, 57, managing member of financial services company Daroth Capital LLC and president and CEO of its banking subsidiary Daroth Capital Advisors LLC.
Dinakar Singh, 43, founder and CEO of TPG-Axon Capital and a former partner at Goldman Sachs and Co., where he was co-head of the principal strategies department.
Alan J. Weber, 63, CEO of investment management firm Weber Group LLC and operating partner and chairman of the financial services advisory board at Arsenal Capital Partners LLC.
Dan A. Westbrook, 60, director at Canadian pipeline company Enbridge Energy Co.
Original Print Headline: SandRidge investor calls for new board
Dinakar Singh: The TPG-Axon CEO says its proposed directors have a reputation of knowing how a board should be run.