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Icahn cuts stake in Cheniere Energy, says confident on management

June 28, 2018 at 09:07 am EDT

(Reuters) - Activist investor Carl Icahn said on Thursday he had reduced his stake in liquefied natural gas exporter Cheniere Energy Inc to 9.5 percent, but added that he was confident in the company's management and Chief Executive Officer Jack Fusco.

Icahn, still the biggest shareholder of the company, had disclosed https://bit.ly/2lHu2Km a stake of 13.8 percent in Cheniere in December 2015.

Under pressure from the investor, Cheniere appointed two of Icahn's nominees to its board and its then chief executive officer Charif Souki stepped down https://www.reuters.com/article/cheniere-energy-ceo/cheniere-energy-ex-ceo-and-co-founder-souki-resigns-from-board-idUSL3N15Y22G in February 2016.

Last month, the Houston-based company got approval for the construction of a third liquefaction unit at its Corpus Christi export terminal in Texas, the first new liquefied natural gas project to go ahead in the United States since 2015.

The company's shares have risen 23 percent this year.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Saumyadeb Chakrabarty)

Carl Icahn

Mr. Carl C. Icahn is a Chairman at CVR Refining GP LLC, at Icahn Enterprises G.P. Inc., at Icahn Enterprises Holdings LP, at Starfire Holding Corp., at ACF Industries LLC, at Atlantic Coast Entertainment Holdings, Inc., at Greate Bay Hotel & Casino, Inc., at Icahn Enterprises Finance Corp., at Icahn Enterprises LP, a Chief Executive Officer at Icahn Capital LP, at General Partners LLC at GB Property Funding Corp., and a Chairman of the Board at Icahn Associates Holding LLC. Mr. Icahn was previously employed as a Chairman by CVR Refining LP, by GB Holdings, Inc., by Maupintour Holding LLC, by American Railcar Industries, Inc., by CVR Energy, Inc., by XO Communications, Inc., by Tropicana Entertainment, Inc., by WCI Communities, Inc., by ImClone Systems, Inc., a Non-Executive Chairman by Federal-Mogul Corp., by Federal-Mogul LLC, by Federal-Mogul Holdings Corp., a Chief Executive Officer by Icahn Capital Management LP, by Icahn Management LP, a Member chCCI Offshore LLC, by Financial Industry Regulatory Authority, Inc., by National Association of Securities Dealers, Inc., by National Association of Securities Professionals, by CCI Onshore LLC, a Chairman & President by XO Holdings, Inc., a President & Director by Stratosphere Corp., a General Partner by American Real Estate Partners LP, a Chairman & President by Icahn & Co., Inc., a Non-Executive Chairman by Federal-Mogul Motorparts LLC, an Owner by Sands Hotel & Casino /Atlantic City/, by Stratosphere Hotel, and a Chairman & Chief Executive Officer by Trans World Airlines, Inc. He received his undergraduate degree from Princeton University.

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