BG names Chris Finlayson as new CEO to run big growth projects

Finlayson, who joined BG from Royal Dutch Shell in 2010, was on a shortlist that included chief financial officer Fabio Barbosa and chief operating officer Martin Houston.

He will oversee large projects in Australia and Brazil that need to be brought on-stream.

As with other oil majors, BG has been struggling with burgeoning costs and may have to sell stakes to fund the development.

Finlayson, 56, will take over on Jan.

1 from Frank Chapman, 12 years at the helm and who retires from BG in June.

Under Chapman, BG has grown from a North Sea producer to an outperforming top-20 global oil and gas group.

Finlayson, seen as having the right background for the dealmaking that is important to BG's culture, is managing director for BG Advance which looks after capital projects, field development and other technical areas.

Previously, he was managing director for Europe and central Asia.

At Shell, he held leadership roles in Nigeria, Russia, Britain and Brunei.

BG put a succession plan in place last year, saying Finlayson, Barbosa and Houston were on a shortlist that could include external candidates.

All were given additional duties to test their suitability.

Barbosa, whose background in Brazil's finance ministry and at Vale would have been an asset given BG's local exposure, has been on a medical leave of absence.

Challenges

In October, BG said project delays in Brazil

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