Tellurian Names New CEO, Directors
US LNG developer Tellurian said November 30 Meg Gentle is “departing the company” as CEO, to be replaced by industry veteran Octavio Simoes.
Two new independent directors, Jean Abiteboul, president of the Paris-based International Group of LNG Importers (GIIGNL), and Jonathan Gross, a geologist, oil and gas consultant and founder of Jexco LLC, were named to Tellurian’s board of directors in the same announcement.
Simoes joined Tellurian in March 2019 as senior advisor to chairman Charif Souki, following his retirement as CEO of Sempra LNG & Midstream, where he led the 12mn mt/yr Cameron LNG project to completion earlier this year. In September 2020, he was named Tellurian’s executive vice president, LNG marketing and business development.
“I watched Octavio put together a complex project at Cameron LNG with admiration,” Souki said. “He and I together are responsible for 75% of the US liquefaction capacity and I am delighted now to have the opportunity to work with him on Driftwood LNG, the next big milestone in US liquefaction.”
Adding Abiteboul and Gross to the board, Souki added, are key pieces in Tellurian’s aspirations to move from a developer of LNG projects to an “integrated American global natural gas company” with its Driftwood development.
“Octavio, Jean and Jon will make a huge contribution to that effort,” Souki said. “The Tellurian team thanks Meg for her hard work and significant contributions to the company over the past four years and we wish her all the best in the future.”
In a November 29 regulatory filing, Tellurian said Gentle’s departure was “mutually agreed” and the board accepted her resignation effective November 29.
In connection with her departure, Gentle will continue to receive her current base salary through December 2021, a future lump sum payment of $721,000 and various other benefits, stock option payments and incentives potentially worth some $21mn in total.
“The company and Ms Gentle have also agreed to certain customary confidentiality, non-disparagement, non-solicitation and non-compete covenants,” Tellurian said in the filing. Gentle, Abiteboul and Souki had all worked together at Cheniere Energy.