Summary
Cheniere Energy, Inc. (LNG) announced changes to its Board of Directors on August 14, 2017, with the immediate resignations of Jonathan Christodoro and Samuel Merksamer, and the appointments of Andrew Langham and John J. “Jack” Lipinski. These appointments are made under a Nomination & Standstill Agreement with the Icahn Group, indicating a potential resolution or alignment of interests with significant shareholders. The new directors bring substantial experience. Mr. Langham, General Counsel of Icahn Enterprises L.P., brings a background in corporate finance and has served on the boards of several publicly traded companies, including Welbilt, Inc., Freeport-McMoRan Inc., CVR Partners LP, CVR Refining, LP, and CVR Energy, Inc. Mr. Lipinski, a seasoned executive with over 40 years in the petroleum refining and nitrogen fertilizer industries, currently holds CEO and Director positions at CVR Energy, Inc. and its affiliates, and previously held senior roles at Texaco, The Coastal Corporation, and El Paso Corporation, also serving on the board of Chesapeake Energy Corporation.
Key Highlights
- 1Jonathan Christodoro and Samuel Merksamer resigned from Cheniere's Board of Directors.
- 2Andrew Langham and John J. “Jack” Lipinski were appointed as new directors.
- 3The appointments were made pursuant to a Nomination & Standstill Agreement with the Icahn Group.
- 4Andrew Langham serves as General Counsel for Icahn Enterprises L.P.
- 5John J. “Jack” Lipinski is CEO and President of CVR Energy, Inc.
- 6Mr. Langham was appointed to the Governance and Nominating Committee.
- 7Mr. Lipinski was appointed to the Audit Committee and the Compensation Committee.