Oil and gas explorer BG Group today said that Simon Lowth, a former ScottishPower executive, is to become its new chief financial officer.
Lowth, a veteran of management consultancy McKinsey & Company, spent four years at ScottishPower, including two years at executive director for finance and strategy, before joining drug giant AstraZeneca in 2007.
He is due to join BG in November, replacing Den Jones, who has been interim chief financial officer since February.
BG chief executive Chris Finlayson said: “Simon knows the gas and power industry well and has a good background in engineering.
“He brings with him a great combination of finance, capital allocation, value-based planning, portfolio management and strategy skills – critical skills as we execute our strategy to deliver long-term value to shareholders and focus on excellence in execution.”
Lowth, who is also a non-executive at banking group Standard Chartered, added: “BG Group is an outstanding company in a sector that I know well and I look forward to working with the team to build on its successes and deliver on the opportunities in this next stage of its evolution.”
AstraZeneca said Lowth will leave at the end of October, following the release of its third-quarter results, and the firm has begun the search for a new chief financial officer.