PracticeConsultingNew FD for Transco

New FD for Transco

BG Group plc today announced the appointment of Steve Lucas as finance director Designate of the Transco group - one of the two new companies to be created out of BG's proposed demerger.

Lucas is currently Treasurer of BG Group. Aged 46, he has wide experience of the energy sector and has held a number of senior financial appointments during his career.

Phil Nolan, Chief Executive Designate of the Transco group, said: “Steve Lucas has a wealth of experience in financial management gained both in the UK and overseas. He has made a significant contribution as Treasurer of BG Group with its large debt book and I am delighted that he will be joining the Transco group.”

BG announced on 22 March that it intended to pursue a demerger which will separate its two principal businesses Transco and BG International. It is currently planned to issue detailed documentation and obtain the approval of shareholders at an EGM in the autumn.

A qualified chartered accountant, Steve Lucas worked in practice in the City of London from 1978-83, specialising in corporate tax.

He then spent 11 years with Shell International Petroleum Company, occupying a number of finance management positions in London, Hong Kong and East Africa including six years in various Treasury roles covering project finance, corporate funding and mergers and acquisitions. His final post at Shell was Finance Manager in Shell’s UK Downstream business.

He moved to the former British Gas in 1994 as Finance Director for the Exploration and Production Division, he took on additional responsibility for the International Downstream business in 1996. He was appointed Treasurer of BG in December 1998.

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