Boardroom reshuffles at Gulf Keystone Petroleum (GKP) suggest that what is good for the Kurdistan Regional Government (KRG) is not necessarily what is also most favoured by international investors on the main market of the London Stock Exchange (LSE). The company’s co-founder Todd Kozel, whose large pay packets have been the subject of vociferous shareholder opposition in the past, will step down as chief executive at the annual general meeting (AGM) on 17 July, but will remain an executive director at the insistence of the KRG.