BG’s Fabio Barbosa steps back
Fabio Barbosa is to step down from his role as chief financial officer of FTSE 100-listed oil and gas producer BG Group.
He has been on leave of absence from the business since September.
However, Barbosa — who returned to his native Brazil for treatment of an undisclosed medical condition — won’t be leaving the company.
Instead he has been appointed chairman of BG South America, in which capacity he will “provide senior counsel and advice to the company’s teams in Bolivia, Chile, Uruguay, and Brazil”, a statement from the firm said.
Barbosa’s former position as chief financial officer will continue to be filled by his temporary replacement — group financial controller Den Jones — until a permanent replacement is found. His move comes at a time of considerable upheaval at BG, after the recent appointment of Chris Finlayson as chief executive amid some tough challenges for the group.
Once the darling of oil and gas investors, BG is struggling to bring developments in Australia and Brazil on stream. This month, it abandoned its ambitions to produce one million barrels per day by 2015 in the wake of project delays.
BG’s shares were little changed today, ticking up by just 4.5p to 1142p. They are down about a fifth since October, when BG gave its first of several warnings on production levels.
- 1 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
- 4 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 5 Why you're almost certainly more like your father than your mother
Mark Zuckerberg: Facebook CEO's one simple test for who to hire
Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Saudi Arabia executions now at 'unprecedented rate' after kingdom kills four more in two days
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...