British energy producer BG Group on Thursday named industry veteran Chris Finlayson as new chief executive, taking over from Frank Chapman who is stepping down owing to illness after 12 years at the helm.
“BG Group plc today announces that Chris Finlayson has been appointed as chief executive, to succeed Sir Frank Chapman,” the London-listed company said in a statement.
Finlayson, 56, who is currently head of BG Advance — the firm’s exploration strategy and technology division — will start his new job on January 1, 2013.
BG added that Chapman has been receiving treatment for very early stage myeloma, a type of bone marrow cancer, since June. Last year he had signalled his intention to retire by mid-2013.
Chapman will step down from the board and group executive committee on December 31. However, he will continue to work as advisor in support of the chief executive transition until his retirement in June 2013.
Finlayson has more than 35 years experience in the oil and gas industry and joined BG Group from Anglo-Dutch energy giant Royal Dutch Shell in 2010.
“I am excited and honoured to have been asked to lead BG Group. Under Sir Frank, the group has grown significantly; with resources expanding from 1.2 to more than 17 billion barrels of oil equivalent,” Finlayson said in the statement.
“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.”
BG will unveil its annual results on February 5, 2013, but added on Thursday that it would publish the company’s strategy update later next year.
UK energy group BG appoints new head
