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.
Look beyond the usual shows for the best festive telly
Michelle Nijhuis' daughter insists (s)he is, and she learnt a valuable lesson on gender in books
newsFormer soldier taped 33 of the animals to the floor and then stamped on them one by one
Robin Thicke named sexist of the year 2013
PAs cleared of fraud - and Nigella Lawson left reeling at 'ridiculous sideshow' of drug allegations
Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
Paul Walker death caused by speed alone
Apollo Theatre collapse: Scores injured after ceiling collapses in London's West End
- 1 Sun will 'flip upside down' within weeks, says Nasa
- 2 Christmas comes early: Justin Bieber is 'retiring from music'
- 3 Iain Duncan Smith leaves Commons food banks debate early
- 4 Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
- 5 Burglar steals video tapes of child abuse, hands them into police
- < Previous
- Next >
iJobs Money & Business
£Negotiable: Citifocus: High calibre individual with institutional client serv...
£120000 - £150000 per annum: Cornwallis Elt : Programme Manager, Strategy Lead...
£55000 - £120000 per annum: Pro-Recruitment Group: The Financial Services Tran...
£600 - £700 per day: Harrington Starr: Client based in West London is looking ...