BG Group appoints Statoil Chief Helge Lund as CEO

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(Oct 15): BG Group Plc appointed Statoil ASA’s Helge Lund as chief executive officer, ending a five-month search at the U.K.’s third-largest oil and gas producer.

Lund, who has led Norway’s state oil company for 10 years, will start next March, BG said in a statement today.

BG was forced to search for its third CEO in two years in April after Chris Finlayson quit. Finlayson left after the Reading, England-based company was forced to scrap a production forecast that was only three months old.

“Helge’s track record speaks for itself. He has built a world-class exploration and production portfolio at Statoil,” Andrew Gould, chairman of BG Group, said in the statement. “Helge is ideally suited to lead BG Group in the next phase of its growth.”

Lund, who resigned with immediate effect, had been CEO since 2004. Statoil’s board has established a sub-committee to search for the next CEO, and will also engage an external adviser in the search, according to the company.