Gulf Keystone Petroleum founder Todd Kozel has turned down a seat on the board after retiring last month as chief executive of the company.
Kozel declined to take up a previously announced post of executive director, the oil explorer with fields in Kurdistan 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 barrels of oil per day, set to increase markedly over the coming months.”
John Gerstenlauer, who’s been chief operating officer since 2008, takes the helm as of today.