Nov 30 (LNGJ) - Tellurian Inc., the developer of the Driftwood LNG project, announced that there had been a “mutually agreed” departure of President and Chief Executive Meg Gentle who will potentially be paid up to $21 milllion. “In connection with her departure, the company and Ms Gentle agreed, among other things, that Ms Gentle would continue to receive her current base salary through December 31, 2021,” said Tellurian.
Gentle’s replacement was named as former Sempra LNG and Midstream CEO Octávio Simões. Simões, aged 61, joined Tellurian in April 2019 as Senior Advisor to the CEO. Tellurian added that Gentle had “agreed to certain customary confidentiality, non-disparagement, non-solicitation and non-compete covenants” on her departure, while retaining compensation benefits such as a future lump sum cash payment of $721,000 and 3.25 million shares of restricted Tellurian stock that will vest upon a final investment decision relating to the Driftwood Project.
