Tellurian Shakeup: New President Named as Founder Souki Ousted

Tellurian, a U.S. liquefied natural gas (LNG) developer, has appointed a new president and general counsel following the recent ousting of co-founder Charif Souki as chairman. The company's shares dropped 15% as investors reacted to the shake-up, which sees co-founder Martin Houston taking over as chairman and Daniel Belhumeur becoming president. Tellurian will pay Souki at least $6 million in cash as part of his removal from all executive roles. The company has struggled to attract customers and investors for its Driftwood LNG project, and its stock has more than halved in value this year.