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2014-10-16 21:25:00

BG & STATOIL: CHANGE CEO

BG & STATOIL: CHANGE CEO

BG Group Plc (BG/) appointed Statoil ASA (STL)'s Helge Lund as chief executive officer, ending a leadership crisis at the U.K.'s third-largest oil and gas producer.

Lund, 51, who led Norway's state-controlled oil company for 10 years, will start next March and become Europe's best-paid oil-company boss with a compensation that could reach 14 million pounds ($22.3 million), BG said. He left Statoil with immediate effect, and marketing chief Eldar Saetre will serve as interim CEO, the Stavanger-based company said.

By poaching Lund, BG has brought in one of the industry's most seasoned executives to take control…

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Tags: BG, STATOIL, OIL, GAS
Chronicle:
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