BG Group Shuffles Management
BG Group announced changes to its Board and Group Executive Committee (GEC). These changes, effective immediately, will ensure BG Group continues to deliver its growth plans and will enhance succession planning at the Executive level.
- Chris Finlayson will become an Executive Director and Managing Director BG Advance, joining the BG Group Board with immediate effect. Chris will also assume Board level responsibility for the evolution of BG Group's organisation. BG Advance is responsible for ensuring the Company develops the core capabilities in support of the delivery of BG Group's strategy and plans.
- Fabio Barbosa will add Strategy and Portfolio Development to his existing Chief Financial Officer and Executive Director accountabilities.
- In addition to his existing Executive Director accountabilities, Martin Houston will become Chief Operating Officer with Board level responsibility for all of the Group's regions and assets, as well as Group-wide business development. In this role, Martin will focus on driving operational performance and project delivery across the Group.
- As planned, Jørn Berget, currently Executive Vice President and Managing Director, BG Advance, will step down immediately from the BG Group GEC and retire in 2012.
BG Group Chairman Sir Robert Wilson said, "I am delighted to welcome Chris to the Board. Chris brings over 35 years of technical and commercial experience in the oil and gas industry, which he gained in a variety of international settings and businesses. The Board will benefit greatly from his skills and experience."
"The creation of these three expanded Board level roles means we have an appropriate internal succession process underway, in addition to an external search, to replace Sir Frank Chapman when he retires as Chief Executive before the end of 2013."
BG Group Chief Executive Sir Frank Chapman said, "These are important changes that will help us both to drive our business forward and to provide development opportunities as part of the succession process. I would like to express our gratitude to Jørn Berget for his unstinting effort in building BG Advance and wish him well ahead of his planned retirement in 2012."
In relation to Chris Finlayson's appointment as Executive Director of BG Group, no information is required to be disclosed pursuant to Listing Rule 9.6.13.
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