Genel Energy’s (LON:GENL) president, founder and former chief executive Mehmet Sepil has retired from the company.
Sepil was chief executive from 2002 until 2011, when the company merged with London listed vehicle Vallares Plc, since then he has been company president.
Tony Hayward, Genel chairman, said: “The history of the Kurdistan Region of Iraq's oil industry cannot be written without Mehmet featuring prominently, and it has been a great pleasure to work with him to establish the company he founded as a respected London-listed oil and gas company.
“While Mehmet leaves a legacy of a management team with unsurpassed relationships in the region, his expertise will remain on hand as he supports the business as a major shareholder."
Genel chief executive Murat Özgül, meanwhile, said: “I look forward to growing Genel and delivering on the strategy that the company instigated under Mehmet's leadership, as Genel continues to support the KRG through progressing the development of our world-class gas assets, adding to the oil production that comprises the bedrock of KRI exports."