8-KLeadership Changes

Cheniere Energy, Inc. 8-K Report, Executive Changes (Feb 16, 2021)

Filed February 16, 2021For Securities:LNG

Summary

Cheniere Energy, Inc. (LNG) announced a change to its Board of Directors. Effective immediately, Courtney Mather resigned from the Board. In a related move, the Board appointed Andrew Teno to fill the vacancy. Mr. Teno's appointment is in accordance with a prior Nomination & Standstill Agreement with the Icahn Group, dated August 21, 2015. This indicates a continued relationship or engagement with entities associated with Carl Icahn. Mr. Teno brings a background in portfolio management and value investing, having most recently served as a Portfolio Manager at Icahn Capital since October 2020. His prior experience includes roles at Fir Tree Partners, Crestview Partners, and Gleacher Partners, with a focus on private equity and M&A. He has also served on the board of Eco-Stim Energy Solutions, Inc. Mr. Teno's appointment to the Audit Committee suggests a focus on financial oversight, and he has been deemed an independent director. He will receive standard director compensation.

Key Highlights

  • 1Courtney Mather resigned from Cheniere Energy's Board of Directors.
  • 2Andrew Teno was appointed to the Board of Directors, effective immediately.
  • 3Mr. Teno's appointment is pursuant to a Nomination & Standstill Agreement with the Icahn Group.
  • 4Mr. Teno has been appointed to the Board's Audit Committee.
  • 5Mr. Teno is considered an independent director.
  • 6Mr. Teno's background includes portfolio management at Icahn Capital and prior experience in private equity and M&A.
  • 7Mr. Teno will receive standard director compensation.

Frequently Asked Questions

The filing does not provide a specific reason for Courtney Mather's resignation from the Board of Directors.

The appointment is made in accordance with a pre-existing Nomination & Standstill Agreement with the Icahn Group, suggesting a continuing governance arrangement or understanding with parties associated with Carl Icahn.

Andrew Teno has a background in finance and investment, most recently as a Portfolio Manager at Icahn Capital. He also has experience in value investing, private equity, and M&A from previous roles at firms like Fir Tree Partners and Crestview Partners. He holds an undergraduate business degree from the Wharton School.

No, Mr. Teno will receive the same compensation as other non-employee directors, pro-rated from his appointment date. This information is detailed in the company's April 10, 2020 proxy statement.