Kosmos Energy Confirms Long-Term Commitment to Ghana By Creating Independent Advisory Council
ACCRA, Ghana, 8 September, 2014 – Kosmos Energy Ghana HC, a wholly owned subsidiary of Kosmos Energy Ltd, announced today the creation of an independent advisory council to enhance the company's ability to support Ghana's needs as a developing economy. By listening to the advice and insights of respected business leaders, Kosmos is preparing to play a more active role in helping Ghana reach its full potential. Creating this independent advisory council confirms Kosmos' long-term commitment to Ghana and supports its business interests for the benefit of both Ghanaian society and Kosmos' shareholders.
Members of the new advisory council include Philippe Ayivor, a retired executive of The Coca-Cola Company; Felix Addo, Country Senior Partner of PricewaterhouseCoopers Ghana; Seth Kwasi Dei, Founder of Leasafric and Blue Skies Ghana Limited; and Ishmael E. Yamson , non-executive Chairman of Unilever Ghana Limited and Standard Chartered Bank Ghana Limited, and former Chairman of Ghana Investment Promotion Centre (GIPC).
Speaking on the formation of the advisory council, Ken Keag, Vice President and Country Manager of Kosmos Energy Ghana said, "We are pleased to have such respected business leaders join our council of advisors. Their individual and collective knowledge and experience will add great strategic insight to Kosmos' work in Ghana as we celebrate 10 years of success and look toward an even brighter future."
Philippe Ayivor said, "International companies working in Ghana have a role to play in helping the country reach its full potential. Kosmos believes in our future and recognizes that its success is tied to Ghana's overall prosperity. I am pleased to be a part of their advisory council."
Felix Addo said, "It is reassuring to see a global SEC registrant reaffirm its commitment to Ghana and devote significant resources to creating and realizing a shared agenda that is mutually beneficial to both company and country."
Seth Kwasi Dei said, "Job creation and broad economic development are the best legacies that a company can give its host country. After 10 years of investment in Ghana, Kosmos continues to increase its level of engagement and wants to be a part of creating our country's future. With my business background and expertise, I can support their efforts."
Ishmael E. Yamson said, "Kosmos has a healthy and realistic understanding that its continued success is linked to the promise of Ghana's future. The creation of an independent advisory council is a strong signal that Kosmos takes this matter seriously and wants to better understand local perspectives, challenges, and opportunities."
About the Members of the Advisory Council
Philippe Ayivor is a retired executive of The Coca-Cola Company where he spent close to 30 years leading various functions across the company. For a decade, he was the general manager charged with delivering Coca-Cola's business growth objectives for thirteen countries in West and Central Africa. Prior to his retirement, he became the public face of Coca-Cola in nine countries in West Africa and a representative of The Coca-Cola Africa Foundation in North and West Africa with responsibility for enhancing the company's social license to operate. Prior to joining Coca-Cola, Mr. Ayivor was a management consultant for Accenture in Houston, Texas. He is currently the President of the American Chamber of Commerce, Ghana and serves on the boards of UT Holdings, The Coca-Cola Bottling Company of Ghana, The Zawadi Africa Education Fund-Ghana and United Way Ghana. Mr. Ayivor earned a bachelor's degree in economics and sociology from Duke University and a master's degree in accounting from Virginia Tech.
Felix Addo , Country Senior Partner of PricewaterhouseCoopers Ghana, has more than 25 years of practice and consulting experience in corporate finance and recovery, financial and forensic auditing, organizational restructuring and performance improvement in both developed and developing economies. During his notable career, Mr. Addo has worked on a number of important projects, including the privatization of Ashanti Gold Fields Limited and Ghana Commercial Bank, and served as the transaction advisor to Government of Ghana on the acquisition of VALCO. He was the fairness reporter for the merger of AngloGold and Ashanti Goldfields Limited. In addition, Mr. Addo served as a member of the Attorney General's business law reform committee and experts. He is currently a director of the Ghana American Chamber of Commerce; President of AIESEC, a student-managed global youth network impacting the world through leadership development; and president of the Ghana Association of Restructuring and Insolvency Advisors. Mr. Addo earned a bachelor's degree in business administration from the University of Ghana and a master's degree in accounting from Loyola University in Maryland.
Seth Kwasi Dei , Founder of Leasafric and Blue Skies Ghana Limited, is one of Ghana's most successful investors with shares in multiple businesses in the areas of leasing, insurance, pharmaceutical manufacturing, fruit processing and marketing. He began his career working for a leasing company in New York and Abidjan, Ivory Coast, and later served as senior vice president in charge of the company's operations in six francophone countries in West Africa. Mr. Dei studied agricultural economics at Cornell University after which he graduated in finance and journalism from the Columbia University Graduate School of Business and Journalism.
Ishmael E . Yamson is a seasoned and well-known corporate executive in Ghana. He joined Unilever Ghana in 1966 from the University of Ghana and worked for the company for 38 years in various capacities, including the last 18 years as Chairman and Chief Executive Officer. During that period, he restructured the company and set it on a path of sustained growth for more than 15 years. Dr . Yamson has also been deeply involved in the development of Ghana's private sector, having played key roles in various associations, including Ghana Chamber of Commerce, Executive Board of the International Chambers of Commerce, Ghana Employers' Association, and Ghana Private Enterprise Foundation. He was a founding director of the Ghana Stock Exchange and a founding member and director of the Centre for Policy Analyses. Until recently, he was also member of the National Development Planning Commission and Chairman of the President's Economic Advisory Council. Dr . Yamson holds a bachelor's degree in economics, with honors, from the University of Ghana. He has received two national honours, namely: The Order of the Volta, The Companion of The Order of The Volta, and an honourary doctorate degree, Honoris Causa, from the University of Ghana, Legon.
About Kosmos Energy
Kosmos Energy is a leading independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. Our assets include existing production and other major development projects offshore Ghana, as well as exploration licenses with significant hydrocarbon potential offshore Ireland, Mauritania, Morocco (including Western Sahara), and Suriname. As an ethical and transparent company, Kosmos is committed to doing things the right way. The company's Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos 2013 Corporate Responsibility Report . Kosmos is listed on the New York Stock Exchange and is traded under the ticker symbol KOS. For additional information, visit www.kosmosenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos' estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words "anticipate," "believe," "intend," "expect," "plan," "will" or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos' Securities and Exchange Commission ("SEC") filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
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