Former BG Group executive to join Petrofac as new CFO

Petrofac, an international oil & gas service provider, has appointed Alastair Cochran as the company’s new chief financial officer (CFO).

Petrofac said on Tuesday that Cochran will join the company on October 3 and, following a short handover, will formally succeed Tim Weller as Chief Financial Officer and Executive Director.

As reported on August 15, Tim Weller will leave the company in October 2016 and become the CFO of security firm G4S, where he will be replacing Himanshu Raja after Raja retires from the Board and steps down as CFO on October 1.

Cochran previously worked for BG Group, where he was most recently Transition Head of BG Global Strategy & Business Development overseeing the integration of BG Group following its acquisition by Shell. Before that, he was Group Head of M&A and Corporate Finance at BG Group.

He is a chartered accountant with 25 years of experience. He began his career with KPMG and spent his earlier career in investment banking with Morgan Stanley and Credit Suisse, advising on a wide range of capital market and M&A transactions.

Rijnhard van Tets, Petrofac’s Chairman, said: “We are very pleased that Alastair has agreed to join Petrofac. His broad range of skills encompassing corporate finance, treasury, risk and strategy, underpinned by his strong financial and commercial acumen, will be a key asset both in the business and around our Board table.”

Ayman Asfari, Petrofac’s Group Chief Executive, said: “I am delighted to be able to welcome Alastair to our Group.  His impressive track record, combined with his comprehensive range of skills and thorough understanding of the oil and gas industry, will be an excellent fit for the business. I am looking forward to working with him as we begin a new chapter in Petrofac’s journey.”

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