BG Group Appoints Statoil CEO Helge Lund As New Chief Executive

(RTTNews) - Energy company BG Group Plc. (BG.L, BRGYY.PK) Wednesday announced the appointment of Helge Lund as Chief Executive and as an Executive Director with effect from March 2, 2015. Lund joins BG Group from Norwegian energy firm Statoil ASA (STO), where he was CEO since August 2004.

BG Group's former Chief Executive Chris Finlayson had resigned in April for personal reasons, and its Chairman Andrew Gould was in charge on an interim basis.

Separately, Statoil said that Lund resigned with immediate effect, and that its board has appointed Eldar Sætre as acting president and CEO. The firm has also established a sub-committee which has started the search for next CEO.

"I could have continued for a period, but there is a time for everything. Renewal is important, both for Statoil and for me. I came to the conclusion that the time was right for a change. I have both the motivation and energy to take on a new leadership challenge, and found this opportunity to be the right one," said Lund.

Statoil's acting CEO Sætre has been a member of the corporate executive committee since 2003. He served as executive vice president and CFO until 2010, then as executive vice president of the Marketing, Processing and Renewable energy business area. The company has appointed Tor Martin Anfinnsen as acting executive vice president for Marketing, Processing and Renewable Energy.

BG shares were gaining around 2.83 percent in London and trading at 1,054 pence, while Statoil shares were down 2.16 percent in Oslo, at 154.10 kroner.