BG Group CFO steps down to take up Latin American role
Fabio Barbosa appointed chairman of company's Latin American unit
By Gaurav Sharma | CFO UK | Published 10:22, 15 February 13
The CFO of BG Group Fabio Barbosa is to step down from his post in order to become chairman of the company’s Latin American unit, it was confirmed on Friday.
BG Group, which is the UK’s third largest oil and gas firm after Shell and BP, said financial Controller Den Jones will continue to serve as interim CFO until a successor is found. He was appointed a director of the company on Friday. The Reading, UK-based company announced last week that its fourth quarter profits, after one-off charges, fell by 29 percent to US$1.03 billion.
Apart from operations in Bolivia, Chile and Uruguay, BG Group has stake holdings in some of Brazil’s largest oilfields. Hence, the move is a natural fit for Brazilian native Barbosa.
In September 2012, he was granted a special leave of absence for medical treatment in Brazil. He was appointed CFO in March 2011. BG Group said that in his new role as chairman of Latin America, Barbosa will "provide senior counsel and advice" to regional teams at locations the company has operations in.
In a statement, the company’s chairman Andrew Gould said, "I would like to express on behalf of BG Group’s board our sincere thanks to Fabio Barbosa for all his excellent work as CFO over the last two years."
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