Update: Tellurian CEO Octavio Simoes to Move Into Advisory Role; Company to Explore Possible Sale -- Shares Fall-February 2024-www.financetom.com

Update: Tellurian CEO Octavio Simoes to Move Into Advisory Role; Company to Explore Possible Sale -- Shares Fall

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

Update: Tellurian CEO Octavio Simoes to Move Into Advisory Role; Company to Explore Possible Sale -- Shares Fall

Mar 18, 2024 9:57 AM

12:34 PM EDT, 03/18/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph)

Tellurian (TELL) shares were down nearly 33% in recent trading on Monday, after the company announced leadership changes and said it is exploring strategic options including a potential sale.

Chief Executive Octavio Simoes will transition to an advisory role before retiring in June, according to the company.

The company named president of Driftwood assets, Samik Mukherjee, as president of Tellurian Investments. Mukherjee and President Daniel Belhumeur will jointly manage Tellurian's commercial activities, the company said.

Meanwhile, Tellurian said in a filing with the US Securities and Exchange Commission that it has expanded its agreement with Lazard Freres to include the exploration of a potential company sale, among other strategic options. The company previously said Lazard would help it with exploring a sale of its upstream natural-gas assets.

Tellurian has also signed an agreement for the potential sale of up to $366.1 million of its common shares from time to time through Virtu Americas, according to the filing.

Price: 0.64, Change: -0.32, Percent Change: -32.92

Previous page： Pakistan's national carrier resorts to flight cancellation owing to non-payment of dues Next page： This bank will cut bonus if employees don't come back to work

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Pakistan's national carrier resorts to flight cancellation owing to non-payment of dues

Oct 23, 2023

The airline, which was once considered the pride of Pakistan and was the first international airline to be given access to fly to Beijing, is said to be suffering millions in losses on a daily basis.

This bank will cut bonus if employees don't come back to work

Nov 22, 2023

ANZ managers have informed their respective teams about the new policy this week in generic emails, reaffirming the bank's expectation that staff devote at least half their working hours in the office each month, afr.com reported.

Mahindra, Volvo among corporations pushing for fossil fuel exit at COP28

Oct 23, 2023

Companies are increasingly committing to their own timelines for reducing their emissions, but many acknowledge that their ability to slow planet-warming CO2 emissions is contingent on faster action from governments.

IMF warns Europe against prematurely declaring victory over inflation

Nov 8, 2023

The Washington-based IMF said that cost of underestimating inflation’s persistence could be painfully high and result in another painful round of rate hikes that could rob the economy of a large chunk of growth.