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CFO Ashley Almanza to step down from BG Group


Fabio de Oliveira Barbosa, formerly CFO at the Brazilian mining company Vale, to replace Almanza

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Chief financial officer Ashley Almanza will step down as CFO in March, BG Group said on Tuesday.

BG Group announced on Tuesday that CFO Almanza will step down on 31 March 2011, and will be replaced by Fabio de Oliveira Barbosa, formerly CFO at the Brazilian mining company Vale.

The FTSE100 company said that Almanza, who is also chair of the 100group of FTSE100 finance directors, will continue to work with the company on a number of ongoing strategic projects.

Barbosa was CFO at Vale, the second-largest metals and mining company in the world, from 2002 until June 2010. Prior to that he was National Treasury Secretary in the Brazilian Ministry of Finance and a former adviser to one of the Executive Directors of the World Bank.

BG Group Chief Executive Frank Chapman, said: “Ashley has worked with me closely in an exceptional partnership that has helped shape the BG Group business as we know it today. I am also appreciative of his early signalling of his desire to leave the group and his support in planning a well-ordered transition to Fabio as his successor."

Barbosa will be appointed to the board of BG Group as soon as he has received the necessary UK visas.

BG Group is currently active in more than 25 countries around the world and is involved in the exploration and production of natural gas.

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CFO Ashley Almanza to step down from BG Group
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