Kosmos announced that James C. Musselman has retired as the company's Chairman and Chief Executive Officer effective December 31, 2010, to focus his energies on entrepreneurial ventures and startup opportunities.
Musselman, along with four other partners, co-founded Kosmos Energy in late 2003.
"I am extremely proud to have helped establish Kosmos and to have been associated with all Kosmos' team members and our Board of Directors. I want to thank everyone for their tremendous support. Kosmos is a dynamic business, and I look forward to the company's pursuit of new initiatives with the same talent and enthusiasm the Kosmos team has exhibited during the last seven years," said Musselman.
"We sincerely thank Jim for his visionary leadership and contributions to Kosmos," said John R. Kemp III, Kosmos Board member. "Jim helped found the company and determine its strategy, which has resulted in the company's enormous success. He has led Kosmos through a period of rapid growth and change."
"I have known and worked with Jim for many years and admire his ability to thrive as an entrepreneur in the oil industry," said Brian F. Maxted, Kosmos Chief Operating Officer. "He has built a winning track record in the independent oil and gas exploration and production sector, especially in the international arena, and has developed companies of value for investors. I consider it a privilege to have worked with him and wish him every success."
Musselman has led several successful business ventures during his career, primarily in the oil and gas industry. He was Chairman and Chief Executive Officer of Triton Energy. Following the sale of Triton to Hess Corporation in 2001, Musselman served as a senior advisor to Hess chairman and CEO John Hess.
Earlier in his career, Musselman was founder and operator of JM Petroleum Corporation. After selling the company to Wesray Capital Group, he assembled an influential investor coalition and led the successful effort to secure the first Class 1 horserace license in the Dallas/Fort Worth, Texas, area. After the license award, he led design, construction and initial operation of the Lone Star Park racetrack facility in suburban Grand Prairie.
Musselman also practiced law at Strother, Davis, Musselman and Hill, with responsibility for oil and gas financing. He is a graduate of Duke University and the University of Texas School of Law.
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