British Gas Group Appoints Fabio de Oliveira Barbosa as CFO

British Gas Group has announced that Ashley Almanza will leave his role as chief financial officer (CFO) on 31 March 2011. This follows an earlier indication from Almanza of his desire to leave BG Group within the next two years. After 31 March 2011, he will continue to work with BG Group chief executive officer (CEO) Frank Chapman to bring to conclusion a number of ongoing strategic projects.

BG Group has appointed Fabio de Oliveira Barbosa to replace Almanza. Until June 2010, Barbosa was CFO at the Brazilian mining company Vale, the largest private sector company in Latin America and the second-largest metals and mining company in the world by market capitalisation. Prior to joining Vale in 2002, he spent seven years in the Brazilian Ministry of Finance, rising to the role of national treasury secretary. He is a former adviser to one of the executive directors of the World Bank.

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