Iraqi Kurdistan-focused Gulf Keystone on 26 June announced that CEO Jón Ferrier “has informed the Board of his intention to retire from the Company.” The announcement follows a contentious AGM last week, where 28% of shareholders voted against Mr Ferrier’s reappointment, and 30% against directors’ remuneration after the firm axed 40% of its workforce and 60% of expats.

Mr Ferrier, who had been in the post for five years, will stay in charge until a successor is appointed and a subsequent handover period. (CONTINUED - 240 WORDS)