(Reuters) - SandRidge Energy Inc (SD.N) and hedge fund TPG-Axon Capital are in settlement talks that could lead to the departure of the oil and gas company's chief executive, Tom Ward, according to sources familiar with the matter.
The company has been under fire since last year from TPG-Axon and another hedge for governance lapses and strategic missteps. TPG-Axon, which owns 7.3 percent of SandRidge, launched a campaign to oust Ward and the company's entire board of directors.
No further details on the settlement talks were immediately available. The sources spoke on the condition of anonymity because the settlement talks have not yet been made public.
TPG-Axon spokeswoman Mary Lee declined to comment. A SandRidge spokesman could not be immediately reached for comment.
(Reporting by Michael Erman; Editing by Gary Hill)