SandRidge Energy Reaches Settlement With Shareholder - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |

Board Shakeup As SandRidge Energy Reaches Settlement With Shareholder

Posted: Updated:
OKLAHOMA CITY -

Oklahoma City-based SandRidge Energy announced Wednesday a settlement deal with TPG-Axon, one of its largest investors and loudest critics.

12/27/2012 Related Story: Hedge Fund Pushes To Remove SandRidge Energy Board

Under the deal, four members of TPG-Axon will immediately be added to SandRidge's board of directors.

SandRidge founder Tom Ward will remain as chairman and CEO while the firm reviews the company's transactions. The board will decide by June 30 if Ward will stay with the company.

1/25/2013 Related Story: SandRidge Finds No Wrongdoing In Transactions Between Company, Ward Family

If Ward stays, three board members will be removed. If he's fired, an interim CEO has already been selected.

SandRidge's chief operating officer has also announced his intention to resign.

Live Radar

WARN Interactive

Featured

  • Consumer Watch

    Been a victim of a scam? The Consumer Watch team investigates and gives helpful advice.

  • My 2 Cents

    Join Kelly Ogle in a community conversation about important Oklahoma issues.

  • 9 Investigates

    Are you aware of incidents of fraud, corruption, government waste? We investigate.

  • Politics

    Get breaking news and the latest headlines from the Oklahoma capitol and Washington D.C.

  • BusinessMore>>

  • Survey: Economists' outlook is sunny but not due to tax cuts

    Survey: Economists' outlook is sunny but not due to tax cuts

    Monday, April 23 2018 11:26 AM EDT2018-04-23 15:26:27 GMT
    Survey: Business economists' outlook is sunny but not because of Trump tax cuts.More >>
    Survey: Business economists' outlook is sunny but not because of Trump tax cuts.More >>
  • Eddie Lampert's firm offers to buy Kenmore from Sears

    Eddie Lampert's firm offers to buy Kenmore from Sears

    Monday, April 23 2018 11:26 AM EDT2018-04-23 15:26:24 GMT
    (AP Photo/Rick Bowmer, File). FILE - In this July 20, 2017, file photo, the Kenmore Elite Smart French Door Refrigerator appears on display at a Sears store in West Jordan, Utah. Private equity firm ESL Investments is offering to buy struggling Sear’s ...(AP Photo/Rick Bowmer, File). FILE - In this July 20, 2017, file photo, the Kenmore Elite Smart French Door Refrigerator appears on display at a Sears store in West Jordan, Utah. Private equity firm ESL Investments is offering to buy struggling Sear’s ...
    Eddie Lampert's hedge fund, Sears' biggest shareholder, asks the struggling retailer to sell the Kenmore brand and home improvement unit, saying it might buy them.More >>
    Eddie Lampert's hedge fund, Sears' biggest shareholder, asks the struggling retailer to sell the Kenmore brand and home improvement unit, saying it might buy them.More >>
  • With lights from Toys R Us dimmed, sales plunge at Hasbro

    With lights from Toys R Us dimmed, sales plunge at Hasbro

    Monday, April 23 2018 11:26 AM EDT2018-04-23 15:26:20 GMT
    The repercussions from the demise of Toys R Us have begun to ripple outward beginning with Hasbro, which is reporting a loss and plunging revenue in its first quarter.More >>
    The repercussions from the demise of Toys R Us have begun to ripple outward beginning with Hasbro, which is reporting a loss and plunging revenue in its first quarter.More >>
Powered by Frankly
News 9
7401 N. Kelley Ave.
Oklahoma City, OK 73111
News9.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KWTV. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.