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HOUSTON (Reuters) -Tellurian said on Monday it appointed a new president and general counsel, days after the U.S. liquefied natural gas (LNG) developer ousted co-founder Charif Souki as chairman. The company's shares were off 15% to about 64 cents a share as investors digested Friday's shake-up that will see co-founder Martin Houston take over as chairman and Daniel Belhumeur as president. Tellurian will pay Souki at least $6 million in cash as part of its decision to remove him from all executive roles without cause, according to a Tellurian proxy filings. ....
Tellurian ousted its chairman and co-founder Charif Souki as an executive officer, the U.S. liquefied natural gas (LNG) developer said on Friday, weeks after auditors raised doubts about the company's ability to cover future expenses. Souki was pushed out of Cheniere Energy and co-founded Tellurian in 2016 with Martin Houston, who will replace him as chairman. Tellurian has changed its Driftwood strategy several times over the years, never attracting enough potential clients for the first, $14.5 billion phase of the 27.6 million metric ton per annum facility. ....