Investors Call For Blankenship To Resign

"The calls to oust Massey Energy Company Chairman and CEO Don Blankenship began in earnest Monday, with members of both the private and public sectors getting involved.

The CtW Investment Group sent a letter to Massey's board of directors Monday afternoon demanding Blankenship's resignation in the wake of the disastrous explosion at the company's Upper Big Branch Mine in West Virginia.

CtW had previously warned the board that its minimal oversight over Blankenship's regime exposed Massey and its shareholders to 'unnecessary legal, regulatory, and reputational risks' -- apparently vindicated in that judgment, the investment group deems the Upper Big Branch disaster a 'tragic consequence' of Blankenship's 'confrontational approach to regulatory compliance.'"

Huffington Post had the story April 12, 2010.

See Also:

Massey Stock Upgraded to "Buy" (Daily Kos)

Tuesday, April 13, 2010