- Push-out Score determined
- After less than four years in the position
- Octávio Simões taking over
(exechange) — Houston, Texas, November 30, 2020 — Meg Gentle, chief executive of Tellurian, leaves — as “mutually agreed.” As announced by Tellurian Inc. in a news release and in a regulatory filing published on Monday, November 30, 2020, Meg A. Gentle has left her post as chief executive officer of the natural gas company after less than four years in the role, effective November 29, 2020.
Meg Gentle’s duties as CEO will be taken over by Octávio Simões, a former President and Chief Executive Officer of Sempra LNG & Midstream.
The fact that Meg Gentle’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Critical inflection point”
Tellurian did not give an explicit reason for Meg Gentle’s departure from the CEO post, leaving room for speculation. Executive Chairman Charif Souki said: “We stand at a critical inflection point in the energy sector. The fundamentals are now very supportive of our business model to launch an integrated American global natural gas company at Driftwood.”
Precise information regarding Meg Gentle’s future plans was not immediately available.
Tellurian said: “Tellurian’s former President and CEO Meg Gentle is departing the company.”
Tellurian further said: “On November 29, 2020, Tellurian Inc. (the “Company”) and Meg Gentle mutually agreed to Ms. Gentle’s departure from her position as President and Chief Executive Officer; and the board of directors (the “Board”) of the Company accepted Ms. Gentle’s resignation from the Board, effective on such date.”
Share price decline since February 2017
The announcement follows a decline in Tellurian Inc.’s share price of 88% since February 2017. February 2017 is the month in which Gentle’s tenure as CEO began.
Chaired by Charif Souki
Charif Souki serves as Tellurian Inc.’s Chairman.
In the position of CEO since 2017
Meg Gentle became CEO of the Company in 2017.
Gentle has served as a director and as President and Chief Executive Officer of Tellurian since the completion of the Merger in February 2017 and as President and Chief Executive Officer of Tellurian Investments since August 2016.
Previously, at Cheniere Energy, Inc. (“Cheniere”), Gentle served as Executive Vice President – Marketing (February 2014–August 2016), Senior Vice President – Marketing (June 2013–February 2014), Senior Vice President and Chief Financial Officer (March 2009–June 2013), Senior Vice President – Strategic Planning & Finance (February 2008–March 2009), and other roles in strategic planning (June 2004–February 2008).
From 2007 to August 2016, Gentle was a member of the board of directors of Cheniere Energy Partners GP, LLC, the general partner of Cheniere Energy Partners, L.P. (NYSE American: CQP), an indirect subsidiary of Cheniere. Prior to joining Cheniere, Gentle spent eight years in energy market development, economic evaluation and long-range planning.
She conducted international business development and strategic planning for Anadarko Petroleum Corporation, a publicly traded independent energy company, from January 1998 to May 2004 and energy market analysis for Pace Global Energy Services, an energy management and consulting firm, from August 1996 to December 1998.
Gentle received a B.A. in Economics and International Affairs from James Madison University in May 1996 and an M.B.A. from Rice University in May 2004.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Tellurian and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 49.2020 ($).