By Andrew Callus
LONDON Feb 15 BG Group finance director
Fabio Barbosa, on leave of absence since September, is stepping
down from the post as the British oil and gas group settles down
to some tough challenges under a new chief executive.
Barbosa returned to his native Brazil for treatment of an
undisclosed medical condition last year.
His role has been filled by group financial controller Den
Jones. BG said Jones would continue as a temporary replacement
while it looks for a permanent finance director.
Since Barbosa left, much has changed at BG, once the darling
of oil and gas investors.
The company is struggling to bring huge new developments in
Australia and Brazil onstream. It shocked the market in October
when it forecast flat output for 2013 because of project delays
and a scaling back of its U.S. shale gas activities due to
Earlier in February, it abandoned its ambitions to become a
1 million barrel per day producer by 2015. Its shares had fallen
by a fifth since the October update.
At the end of last year, long-standing chief executive Frank
Chapman stepped down earlier than planned due to illness. He was
replaced by Chris Finlayson.
Barbosa will remain at BG as Chairman of BG South America
based in Rio de Janeiro, advising on its operations in Bolivia,
Chile, Uruguay and Brazil.