BG Group today announced that, with effect from November 2013, Simon Lowth has been appointed as Chief Financial Officer (CFO) and as an Executive Director. The effective date of the appointments remains to be confirmed and will be the subject of a separate announcement.
Simon is currently the CFO of AstraZeneca PLC and an Executive Director on its Board. He joined the biopharmaceutical company in November 2007 and is responsible for Finance, Investor Relations, and AstraZeneca’s business in Japan. During his time at AstraZeneca, Simon has helped the company improve productivity, cash management, and capital allocation as it transitions through a period of patent expirations.
Simon has been a non-executive director of Standard Chartered PLC since 2010.
Prior to joining AstraZeneca, Simon worked at Scottish Power PLC from 2003 to 2007. As Corporate Strategy Director, Simon introduced value-based planning and performance metrics, while moving the company’s strategic focus to organic investment. In 2005, Simon was appointed Finance Director, successfully leading a drive to improve both earnings and cash generation.
Simon previously spent 15 years working for McKinsey & Company, latterly as the Director responsible for the UK industrial practice. Simon has an engineering degree from the University of Cambridge and an MBA from London Business School.
Simon will succeed Den Jones who has been Interim CFO and Executive Director since February 2013.
Commenting on Simon’s appointment, BG Group Chief Executive Chris Finlayson said,
“I am delighted Simon is joining BG Group. Our current priority is execution and creating value. Simon knows the gas and power industry well and has a good background in engineering. He brings with him a great combination of finance, capital allocation, value-based planning, portfolio management and strategy skills -critical skills as we execute our strategy to deliver long-term value to shareholders and focus on excellence in execution”.
“I would also like to thank Den for his tremendous commitment, hard work and achievements during a challenging period for the business”.
Commenting on his appointment Simon said,
“I’m looking forward to working with Chris to deliver BG Group’s exciting growth strategy. BG Group is an outstanding company in a sector that I know well and I look forward to working with the team to build on its successes and deliver on the opportunities in this next stage of its evolution.”