Golar LNG CEO Doug Arnell to Resign

For Golar LNG’s CEO Doug Arnell, it’s been a good ride. For the past four years his company has increased its market cap 400 percent and grown to be a leader within global LNG shipping and floating LNG storage and liquefaction.

For Arnell however, he’s decided that it’s time to leave London and head back home to Canada and will be relinquishing his post as CEO to Australian successor Gary Smith on 1 February 2015.

Smith had actually been the CEO of Golar LNG Ltd between March 2006 and September 2009, but left the company to return to Australia for personal reasons in 2009. His career spans 35 years, including 25 years with Shell and Caltex Australia (a Chevron affiliate) in roles including General Manager LNG Shipping for Shell (STASCO) and General Manager Refining, Supply and Distribution for Caltex Australia.

Last year, Smith worked as a consultant for Golar with special emphasis on increasing the utilization of the company’s shipping fleet of LNG carriers.

In a statement Mr. Arnell said, “I wish to thank the staff and management of Golar, its Board of Directors, and our investors for their support in reaching some important milestones for the Company. I believe we have assets and a future strategy that will unlock very significant further value in the coming years. I am a strong believer in the Golar story and look forward to continuing to contribute to it.”