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Todd Kozel (Image courtesy of Gulf Keystone)

Todd Kozel, founder of Gulf Keystone Petroleum, turned down a seat on the board after retiring last month as CEO.

Kozel declined to take up the previously announced post of executive director, according to the company.

Chairman Simon Murray said in the statement that Kozel will continue to have a role in the company, maintaining its relationship with the Kurdistan Regional Government.

Murray said, “Todd hands Gulf Keystone on in extremely good shape. 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 COO since 2008, takes the reigns of CEO today.