BG Group appoints oil veteran Chris Finlayson as its new chief

BG GROUP yesterday appointed Chris Finlayson as its new chief executive, starting in January.

Industry veteran Finlayson is currently managing director of BG Advance and has over 35 years of experience in the oil and gas industry. He joined BG Group from Shell, where he was a member of the exploration and production leadership team.

Sir Frank Chapman, current head of BG Group, will step down at the end of the year after a 12-year tenure, although he will continue to work as an adviser until his retirement next June.

Analysts welcomed Finlayson’s appointment, with Gordon Gray at Canaccord Genuity saying that investors should view the move as a positive one.

Analysts at N+1 Singer also heralded Finlayson, saying it removed a “key uncertainty” for BG.

They highlighted that while he was not the “most obvious candidate, given others in the frame who have been at BG for a long time”, but said they expected him to be a strong leader “at a difficult time for BG as it struggles to deliver on production growth”.