Neal A. Shear has been appointed by Cheniere Energy Inc. as its interim president and chief executive officer. The appointment follows the board’s decision to replace Charif Souki, Cheniere’s cofounder, chairman, president, and chief executive officer.
Separately, board member G. Andrea Botta has been appointed as chairman. Both moves are effective immediately.
Shear also has been appointed chairman of Cheniere Energy Partners GP LLC, the general partner of Cheniere Energy Partners LP, and Cheniere Energy Partners LP Holdings LLC.
The company says its governance and nominating committee will immediately begin a search for a permanent chief executive, adding that Shear, together with a special committee of the board, will work with the company’s executive team to facilitate an orderly leadership transition.
Shear, a member of Cheniere’s board since 2014, is a 30-year industry veteran with experience managing global commodities activities and investments across a variety of asset classes. He is a partner of Silverpeak Strategic Partners LP, a private investment company, and served as the chief executive officer of Higgs Capital Management, a commodity-focused hedge fund, until 2014.
Botta has been a member of Cheniere’s board since 2010. Since 2006, Botta has served as president of Glenco LLC, a private investment company. Prior to joining Glenco, Botta served as managing director of Morgan Stanley from 1999 to 2006.