Arlington-based natural gas provider announces leadership changes
Founders, co-Chairmen and co-CEOs Robert Pender and Michael Sabel will split their roles
Arlington-based liquefied natural gas producer Venture Global LNG Inc. announced Monday corporate governance changes in which founders, co-Chairmen and co-CEOs Robert Pender and Michael Sabel will split their roles.
With approval of the board of directors, effective Oct. 1, Sabel will assume the role of CEO and Pender will become executive co-chairman, a new officer position in which he would support the company and CEO on strategic and financial matters.
“It has been an exhilarating decade working with Mike to create Venture Global LNG and to help reshape the global LNG industry,” Pender said in a statement. “We have succeeded in large part because of the singular focus we have both personally fully invested, now I need to step back a bit. There is no person I trust more than Mike to lead this company we created together into the future.”
Pender would also continue to serve on the board of directors and he and Sabel would serve as executive co-chairmen of the board.
“The success we have achieved would not have been possible without Bob’s leadership, guidance, intellect and energy,” Sabel said in a statement. “While roles are changing a little bit, the partnership, collaboration and intensity will continue for many years to come as we continue to grow our business.”
Venture Global LNC is a low-cost provider of liquefied natural gas from North American natural gas basins. The company is developing production capacity in Louisiana, where it has other production facilities.