BG Group appoints new CEO

Chris Finlayson, the Managing Director of BG Advance and an Executive Director, is to succeed Sir Frank Chapman as BG Group's Chief Executive Officer (CEO), the natural gas company announced on Thursday.

Chapman, who has been suffering from very early stage myeloma, is to step down from the board at the end of 2012 and will continue to work as an advisor to Finlayson until his retirement in June 2013.

"I am delighted that Chris has been asked to succeed me. His depth of knowledge and wealth of international experience is perfectly matched for the delivery task that lies ahead. I wish him every success," said Chapman in a statement.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Finlayson has over 35 years experience in the oil and gas industry and joined BG from Shell in August 2010 and was appointed to the board last November. He is currently responsible for BG Advance, the company's major capital project programme, contracts and procurement and technology.

"I am delighted to announce the appointment of Chris as BG Group's new Chief Executive. I have known Chris for many years and he has outstanding front line operating experience," said Chairman Andrew Gould.

"The process to appoint Sir Frank's successor early in 2013 has been rigorous and comprehensive and allows for an orderly transition. The board identified and assessed three internal candidates and a number of external candidates. It was a tough competition but reached a clear conclusion. We were unanimous that Chris has the right skills for the next stage of BG Group's evolution, and the delivery of our growth projects.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.