AstraZeneca CFO leaves to join BG Group

15th Jul 2013 07:03

AstraZeneca's Chief Financial Officer (CFO) Simon Lowth is stepping down to join oil and gas firm BG Group.He will leave the pharmaceutical giant in October, after reporting third quarter results, and will start as BG Group's new CFO the following month. AstraZeneca has started to search for a replacement. The company's Chief Executive Officer (CEO), said: "Simon has made a significant and lasting contribution to AstraZeneca's success, helping put the company on a stronger footing for the future."Lowth will succeed Den Jones who has been Interim CFO and Executive Director at BG Group since February 2013. Jones filled in after Fabio Barbosa left as CFO of the UK's third-largest oil and gas company.Lowth, who joined AstraZeneca in November 2007, has also previously worked for Scottish Power and McKinsey & Company. "I am delighted Simon is joining BG Group," said BG Group CEO Chris Finlayson."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." RD