Summary
Cheniere Energy, Inc. (LNG) announced on July 9, 2013, the election of Randy A. Foutch to its Board of Directors. Mr. Foutch will serve as a Class III director until the 2014 annual meeting and has been appointed to the Compensation Committee and the Governance and Nominating Committee. This appointment fills a vacancy on the Board and brings new expertise to key oversight functions. The company continues to focus on its strategic direction and governance as it expands its operations. Mr. Foutch's compensation as a non-employee director will be prorated to $158,000 for the service period from the 2013 to the 2014 annual meetings. Directors have the option to receive their compensation in restricted stock, cash, or a combination of both. This filing is primarily administrative, concerning board composition and director compensation, and does not contain new material financial performance information, but it underscores the company's ongoing efforts to maintain a robust and experienced leadership team.
Key Highlights
- 1Randy A. Foutch was elected to Cheniere Energy's Board of Directors.
- 2Mr. Foutch fills a vacancy and will serve as a Class III director until the 2014 annual meeting.
- 3He has been appointed to the Compensation Committee and the Governance and Nominating Committee.
- 4Non-employee directors receive compensation of $180,000 annually, payable in restricted stock or cash, or a mix.
- 5Mr. Foutch's compensation for the current term is prorated to $158,000.
- 6The company issued a press release on July 11, 2013, announcing the director's election.