Cobalt International Energy, Inc. Reports Change in Board of Directors
HOUSTON--(BUSINESS WIRE)--Jan. 28, 2014--
Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) announced the
resignation of Kenneth A. Pontarelli and Peter R. Coneway from its Board
of Directors, each effective today.
Mr. Pontarelli is a Managing Director in the Merchant Banking Division
of Goldman, Sachs & Co. and has been a Director of Cobalt since our
inception in November 2005. Mr. Coneway is a Managing Director of
Riverstone LLC and has been a Director of Cobalt since October 2009.
As a result of these resignations, the size of the Board has been
reduced from eleven to nine Directors. The two founding sponsors who
remain represented on Cobalt’s Board control a combined total of
approximately ten percent of Cobalt’s outstanding shares.
Joseph H. Bryant, Cobalt’s Chairman and Chief Executive Officer,
commented: “The advice, counsel and support of Goldman Sachs and
Riverstone will be greatly missed on our Board. Over the past eight
years, their unwavering confidence in Cobalt has had a direct influence
on our status today as one of the world’s pre-eminent exploration and
production companies. On an individual basis, Ken and Pete’s
contributions and guidance over the years have made an immeasurable
impact on the success of Cobalt. I personally extend my deepest
gratitude to Ken and Pete for their steadfast commitment to Cobalt’s
long-standing values and vision, and wish each of them all the best in
their current and future endeavors.”
Cobalt is an independent exploration and production company active in
the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon in West
Africa. Cobalt was formed in 2005 and is headquartered in Houston, Texas.
Source: Cobalt International Energy, Inc.
Cobalt International Energy, Inc. Investor Relations: John P.
Wilkirson, +1 (713) 452-2322 Chief Financial Officer or Media
Relations: Lynne L. Hackedorn, +1 (713) 579-9115 Vice
President, Government and Public Affairs