(Reuters) - The head of New York's state pension fund urged shareholders of Chesapeake Energy Corp to withhold votes to re-elect two members of the natural gas producer's board of directors.
In a letter issued on Tuesday, New York State Comptroller Thomas DiNapoli said withholding votes to re-elect board members V. Burns Hargis and Richard K. Davidson would be a "necessary first step toward reconstituting a board that is currently entrenched and unaccountable to shareholders."
The letter comes after activist investor Carl Icahn revealed on Friday he had taken a 7.6 percent stake in Chesapeake, and called on the company to replace at least four directors.
(Reporting By Anna Driver in Houston and Matt Daily in New York; Editing by Gerald E. McCormick)
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