Gulf Keystone’s Kozel to leave board after exiting as CEO

7/17/2014

Gulf Keystone’s Kozel to leave board after exiting as CEO

NIDAA BAKHSH

HAMILTON, Bermuda (Bloomberg) -- Gulf Keystone Petroleum Ltd. founder Todd Kozel has turned down a seat on the board after retiring last month as CEO of the oil explorer with fields in Kurdistan.

Kozel declined to take up a previously announced post of executive director, the Bermuda-based company said in a statement. He will continue to have a role in the company, maintaining its relationship with the Kurdistan Regional Government, Chairman Simon Murray said in the statement.

“Todd hands Gulf Keystone on in extremely good shape,” Murray said. “The company has successfully transitioned from junior explorer into a player of real scale with production today of 25,000 bopd, set to increase markedly over the coming months.”

John Gerstenlauer, who’s been COO since 2008, takes the helm as of July 17.

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