BG Group today announces the Board has accepted Chris Finlayson’s resignation as Chief Executive and as an Executive Director of the Board with immediate effect, for personal reasons.
Until a permanent replacement is appointed, Andrew Gould, BG Group’s Non-Executive Chairman, will take over as interim Executive Chairman. A recruitment process to find an external successor to Chris is now underway. Andrew will revert to the role of Non-Executive Chairman once the new Chief Executive is appointed.
Andrew Gould said: “I would like to thank Chris for his contribution to the Group over the past four years and we wish him well for the future. The Board of Directors is fully committed to the Group’s strategy, which is built upon a portfolio of high-quality assets. The Company must accelerate the creation and delivery of the longer-term value for our shareholders, while delivering the Group’s business plans. The Board felt that it was in the best interests of the Group to accept Chris’ resignation and seek fresh leadership to deliver both of these priorities.”
Chris will not receive any payment beyond his contractual entitlement, details of which will be available on the Group’s website.
The company’s release said that the resolution to re-elect Chris Finlayson as a Director of the Company at its 2014 Annual General Meeting, as set out in the notice of that meeting, will be withdrawn.