Tellurian Announces Leadership Changes as Shares Plummit

By Tamara Parker • Monday, March 18 10:16 • Permanent Link

Tellurian Inc. (NYSE American: TELL) has announced significant leadership changes, with Samik Mukherjee, the Executive Vice President and President of Driftwood Assets, being appointed as the President of Tellurian Investments. In his new role, Mukherjee will be responsible for the development of all Tellurian’s assets, including upstream, Driftwood LNG, and pipeline, as well as permitting, safety, and asset integrity.

Meanwhile, Daniel Belhumeur, the President of Tellurian Inc., will retain accountability for finance, investor relations, legal, public and government affairs, and human resources. The two presidents, Samik Mukherjee and Daniel Belhumeur, will jointly manage Tellurian’s commercial activities as the company integrates commercial activities with future operational execution and optimization.

As part of these changes, Tellurian's Chief Executive Officer Octávio Simões will transition into an advisory role and is expected to retire in June 2024.

Executive Chairman Martin Houston expressed confidence in the leadership changes, stating that both Samik and Daniel are experienced leaders and will thrive in their added responsibilities. Houston also acknowledged Tellurian’s progress in the last few months, emphasizing the focus on delivering Driftwood LNG.

It is evident from the press release that Tellurian is aligning its internal resources to better serve its shareholders and customers. The company's focus on delivering value for its stakeholders is reinforced by the recent leadership changes.

Tellurian, based in Houston, Texas, aims to create value for shareholders by building a low-cost, global natural gas business and profitably delivering natural gas to customers worldwide. The company is developing a portfolio of LNG marketing and infrastructure assets, including an approximately 27.6 million tonnes per annum (mtpa) LNG export facility and an associated pipeline. Tellurian's common stock is listed on the NYSE American under the symbol “TELL.”

Following these announcements, the company's shares moved -10.4%, and are now trading at a price of $0.86. For more information, read the company's full 8-K submission here.

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