Feb 19 SandRidge Energy Inc said a proxy
advisory firm has recommended shareholders reject a campaign by
hedge fund TPG-Axon Capital to sack the oil and gas company's
TPG-Axon, one of SandRidge's largest shareholders, wants to
replace the board and oust Chief Executive Tom Ward, citing weak
management and the company's poor stock performance.
Proxy advisory firm Egan-Jones Proxy Services said TPG-Axon
had not provided specific plans or valid reasons to change
SandRidge's direction, Sandridge said in a statement.
Another proxy advisory firm, ISS, said on Friday that a
majority of SandRidge directors should be replaced due to
governance problems at the company.