Chesapeake Energy Corp.'s second-largest investor Carl Icahn has increased his stake in the Oklahoma City-based operator to 8.98% from 7.6%, according to a regulatory filing by the company. The activist investor earlier this year pushed for governance changes, including replacing Aubrey McClendon as chairman. Icahn was instrumental in shaking up the board of directors and appointed an associate, Vincent J. Intrieri, as one of four new members (see NGI, June 25).

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