Struggling LNG company appoints new CFO

Tellurian has appointed Kian Granmayeh as its new CFO. He replaces Antoine Lafargue, who will join the marketing group as the Senior VP of LNG Marketing. Mr Lafargue has been CFO of Tellurian or its predecessor company since June 2015.



Mr Granmayeh began at Tellurian as a consultant to the CFO in January 2019 and was appointed as Director of Special Projects in July 2019 and Director of Investor Relations as month later. Prior to joining Tellurian, he worked at Apache.

Mr Granmayeh will receive a base salary of $380,000.

It’s been a rough few weeks for the company, which is based in downtown Houston. In late February it announced that its anticipated completion of a partnership deal with India’s Petronet was delayed by two months. That deal is tied to the proposed Driftwood LNG project in Louisiana. As a result, its share price dropped by 10% on the day the delay was announced.

The share price dropped triggered the family trust of co-founder Charif Souki being forced to sell 18 million shares to satisfy loan requirements by a lender. Some 25 million shares had been pledged as collateral to secure a loan for certain real estate investments.

The shares, which had been trading around $7 in mid-February, are now trading at around a dollar.

SEC filing – Tellurian CFO

 

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