PE-Backed Kosmos Energy Names CEO

Oil exploration and production firm Kosmos Energy, which is backed by buyout shops Blackstone Group and Warburg Pincus, has named Brian Maxted to the post of chief executive, Reuters reported. Maxted previously served as chief operating officer. The company also named independent director John Kemp III to the post of chairman, Reuters said.

(Reuters) – Privately-held oil exploration and production firm Kosmos Energy named Chief Operating Officer Brian Maxted as its new chief executive, while appointing independent director John Kemp III as chairman.

Maxted, one of the co-founders, and Kemp replace former Chairman and CEO James Musselman, whose retirement from Kosmos was announced previously, the company said in a statement.

Kosmos, backed by private equity firms Blackstone Group (BX.N) and Warburg Pincus [WP.UL], focuses on West Africa and owns a 23.49 percent stake in Ghana’s prized Jubilee offshore oilfield, which is operated by Britain’s Tullow Oil (TLW.L) and holds around 1.6 billion barrels of light crude. (Reporting by Abhinav Sharma in Bangalore; Editing by Hans Peters)