3rd Jul 2015 07:38
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd Friday said one of its non-executive directors has resigned whilst another two will not seek re-election at the company's upcoming annual general meeting.
Early Friday, Sky News reported that city investors in Gulf Keystone had told the company that they planned to vote against the re-election of Uthaya Kumar, Joseph Stanislaw and Maria Darby-Walker at next week's AGM in Paris, which will be held on July 9.
That was followed by a statement from Gulf Keystone that said Kumar had resigned whilst Stanislaw and Darby-Walker had chosen not to seek re-election.
The move threatens to embroil Gulf Keystone in a renewed corporate governance crisis, and raises the bizarre prospect of its new chief executive being unable to join the company's board because it would have too few directors based outside the UK, said Sky Friday.
Sky also claimed that at least one of the three non-executive directors had ongoing concerns of their own about the company's governance, which has been under fire.
A person close to Gulf Keystone told Sky News that its interim chairman, Andrew Simon, was also likely to step down later this year and that a search was "well under way" for a permanent chair.
http://news.sky.com/story/1512429/troubled-gulf-keystone-faces-new-board-exodus
Gulf Keystone shares were down 2.6% to 37.00 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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