Oil and gas explorer BG Group Plc. (BRGYY.PK,BG.L) Thursday said Chris Finlayson, currently Executive Director and Managing Director of BG Advance, has been appointed as chief executive officer of the company, succeeding ailing Frank Chapman. Finlayson will assume his new role on January 1, 2013.
Finlayson has over 35 years experience in the oil and gas industry. He joined BG Group from Royal Dutch Shell Plc in August 2010 and was appointed to the board on November 15, 2011.
At BG Group, Finlayson currently has executive responsibility for leading BG Advance, including BG Group's exploration team, the group's major capital projects program, contracts and procurement and technology.
At Shell, Finlayson was a member of the Exploration and Production leadership team. He held several senior leadership positions in E&P and LNG in Russia, Nigeria, Brunei and the North Sea.
According to BG, he has an outstanding track record of delivering large scale projects and optimisation of production and operational performance. He has worked successfully with joint venture partners, national oil companies and governments at the highest levels.
As Managing Director, Shell Petroleum Development Company of Nigeria, Finlayson led Nigeria's largest and most complex oil and gas joint venture. He managed production of some one million barrels of oil equivalent per day. He was also Shell's Director of Nigeria LNG Ltd, the second largest LNG plant in the world at the time.
As Executive Vice President Shell EP Russia, Finlayson was assigned to manage the cost and schedule issues at Sakhalin 2, Shell's largest integrated oil and gas LNG project at that time, and improve relations with the Russian government and Gazprom.
Chapman will step down from the Board and Group Executive Committee on December 31, and will continue to work as an advisor in support of the Chief Executive transition until his retirement in June 2013.
In June, Chapman began a course of medication for very early stage myeloma. He remains fit and well and has continued to fulfill his duties as Chief Executive with the full support of the Board. Next year, he will undergo 3 to 4 weeks hospital treatment to consolidate the progress.
Commenting on his appointment, Chris Finlayson said, "Under Sir Frank, the Group has grown significantly...My priority is to build on this legacy by delivering the new growth projects that will commercialise this huge and valuable resource base, to continue to build on our exploration success, and at the same time to drive for operational excellence and cost efficiency."
In September, BG's Chief Financial Officer Fabio Barbosa was granted leave to undergo medical treatment in Brazil for a recently diagnosed condition. BG Group Financial Controller Den Jones was appointed alternate director for what is expected to be the remainder of the year.
Further, BG said today that it would hold a fourth-quarter and full year results update on February 5, 2013. But, due to the Chief Executive transition, the Group's strategy update will be held later in the year.
BG.L closed at 1,065 on Wednesday.
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by RTT Staff Writer
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