SandRidge CEO pay among highest in energy industry
BY ADAM WILMOTH NewsOK.com
Wednesday, January 16, 2013
1/16/13 at 3:32 AM
OKLAHOMA CITY - One of the central claims in the ongoing feud between SandRidge Energy Inc. and shareholder TPG-Axon is that the energy company's executives have reaped hefty profits over the past five years while its stock price dropped 80 percent.
The shareholder has objected to the compensation CEO Tom Ward and other executives have received while shareholders have lost value.
"The destruction of stockholder value has been caused by poor and erratic strategic decisions, reckless spending, and a culture of cronyism and waste that has drained value from the company," the shareholder said in a regulatory filing last month.
Oklahoma City-based SandRidge has dismissed the claims, calling TPG-Axon an "opportunistic investor with short-term interests."
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Original Print Headline: SandRidge CEO pay near top
Tom Ward: With compensation of $25.2 million, he was among the highest-paid in 2011