Water Defense Calls For McClendon to Be Fired

Water Defense Calls For McClendon to Be Fired
Launches Online Petition Calling for Chesapeake CEO’s Ouster; Calls McClendon’s Apology Insufficient

Water Defense, an environmental advocacy group co-founded by actor Mark Ruffalo, responded to Chesapeake Energy CEO Aubrey McClendon’s apology to investors yesterday by launching an online petition to Chesapeake’s Board of Directors calling for McClendon to be removed from his position as CEO at the company, and issued the following statement:

“Chesapeake Energy CEO and now-former chairman Aubrey McClendon's half-hearted apology yesterday doesn't begin to make up for his reckless disregard for the interests of his investors or for the devastation Chesapeake's drilling activity has caused in communities across the country. In light of recent revelations that Aubrey McClendon put personal profit ahead of his responsibilities as CEO by operating a $200 million dollar energy commodities hedge fund and using Chesapeake wells as collateral for massive off-books loans, Water Defense is calling on Chesapeake's board of directors to fire McClendon.

Aubrey McClendon has built an empire on land speculation, fraud and corporate propaganda. As a result, thousands of families have seen their homes invaded by carcinogenic toxins while Chesapeake’s major investors have been left to wonder whether they’re holding stock in the next Enron. A change in corporate governance at Chesapeake can’t restore the health, safety or prosperity of communities on the frontlines of the fracking boom, but it may serve to deter the worst, most criminal behavior of oil and gas billionaires.

As spectacular as Aubrey McClendon’s sins and misdeeds may be, we believe that Chesapeake Energy represents a broader trend towards corruption and deceit in the gas industry. Aubrey McClendon has been at the forefront of the shale gas boom and has served as its most important spokesperson. Chesapeake has poured hundreds of millions of dollars into lobbying and advertising to convince the American public that shale gas is a panacea for our energy problems while at the same time cheating investors and devastating communities. Can we really believe that the fracking boom is any better or more stable than its leading hype man? The very public demise of Aubrey McClendon should serve as a warning: natural gas is a bridge to nowhere.”

##