BG Group board accepts CEO resignation

Guy Bentley
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The board of oil and gas explorer BG Group has accepted the resignation of the company's chief executive and executive director of the board Chris Finlayson with immediate effect.

The company said in a news release that the resignation was due to personal reasons. The group's non-executive chairman Andrew Gould will take over as interim executive chairman until a replacement is appointed.

Gould will return to his post of non-executive chairman when a new chief executive is found to replace Finlayson.

"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," said Gould.

Finlayson will not be receiving additional compensation beyond his contractual entitlement. The group will announce its first quarter results on 1 May.

The company said it was making good progress in both Australia and Brazil but Egypt is still presenting challenges, with first quarter volumes falling by 35 per cent from the fourth quarter of last year to 66,000 barrels of oil equivalent per day.