By John Lee.
Gulf Keystone Petroleum Limited has announced the appointment of Dr Joseph A. Stanislaw and Mr V Uthaya Kumar to the Board as Non-Executive Directors with immediate effect.
Dr Joseph A. Stanislaw has spent the last three decades as a senior adviser within the energy industry. He was previously President and CEO of Cambridge Energy Research Associates (CERA), the US consulting company specialising in advising governments and private companies on energy markets, geopolitics, industry trends and strategy. Following the sale of CERA in 2004 he founded The JA Stanislaw Group, also an energy advisory business, from where he served as Independent Senior Advisor, Energy and Sustainability, to Deloitte LLP.
Dr Stanislaw is a member of the Council on Foreign Relations. He was a Research Fellow of Clare Hall and a member of the Energy Research Group in the Cavendish Laboratory at Cambridge University. He served as Senior Economist to the Organization of Economic Cooperation and Development's (OECD) International Energy Agency in Paris.
V Uthaya Kumar, a Fellow of the Institute of Chartered Accountants in England and Wales and had a 35 year career with PricewaterhouseCoopers (PwC) before retiring as Senior Partner of PwC South East Asia Peninsula in June 2014. Mr Kumar has worked with international clients in audit, business advisory, mergers & acquisitions, valuations, privatisations and cross border transactions.
There is no further information to be disclosed pursuant to sections LR 9.6.11, LR 9.6.12 or LR 9.6.13 of the Listing Rules, FCA Handbook.
Commenting on today's announcement, Simon Murray (pictured), Non-Executive Chairman of Gulf Keystone said:
"We are very pleased to welcome both Dr Stanislaw and Mr Kumar to the Board of Gulf Keystone as independent Non-Executive Directors. Both bring skillsets honed over long and distinguished careers in their respective fields which complement the existing team and from which I am confident the Company will benefit hugely.
"Dr Stanislaw has provided strategic advice to energy firms at all stages of their development, including on geopolitical and economic issues. Mr Kumar, as a former senior partner at PwC, brings deep expertise in the disciplines of Risk & Governance, Financial Reporting and Process & Controls. Furthermore, both new Directors' international perspectives fit well with the Company's geographically diverse equity and debt investor base."
Shares in GKP closed down more than 11 percent on Thursday.
(Sources: GKP, Yahoo!)