Icahn To Cheniere Energy CEO: You're Fired
The board of Cheniere Energy (LNG) has fired its CEO. Carl Icahn owns ~13% of the company.
The Charif Souki exit likely comes with the help of Icahn. The activist got on the board earlier.
Neal Shear - board member and former head of Morgan Stanley's commodities business - will be the interim CEO. Shear is currently a partner at Silverpeak Strategic Partners and has worked as global head of securities at UBS Investment Bank.
This firing comes as there are a lot of issues with Souki's large compensation. Back in 2013, he pulled in the highest compensation package in the U.S. public companies.
Souki has sold about one-third of the stock that he owns.