AstraZeneca CFO quits to join BG group

Simon Lowth, chief financial officer at AstraZeneca, is going to leave the pharma company at the end of October to join the oil and gas group BG. Lowth, who joined AstraZeneca in 2007, is responsible for the business in Japan, as well as finance and investor relations.

 “Simon has made a significant and lasting contribution to AstraZeneca’s success, helping put the company on a stronger footing for the future. Personally, I will miss our interactions and I would like to thank him for all his support over the last few months. I know that I speak on behalf of everyone at AstraZeneca in wishing him well in the next chapter of his career.”

 
Pascal Soriot, Chief Executive Officer

Having previously worked in the gas and power industry, Simon will be taking up his new post as CFO for the BG Group PLC in November. BG faces the challenge of recovering from last year’s announcement that it would miss output targets.

 “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.”

 
Chris Finlayson, BG Group’s chief executive

A search for Simon’s successor is already under way.

Related news:

AstraZeneca CFO to join BG (The Guardian)

AstraZeneca finance chief Lowth to quit for BG Group (Reuters)

Reference links:

Simon Lowth, Chief Financial Officer, to leave AstraZeneca (Press release)

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