GENEL ENERGY, the oil company headed by Tony Hayward, the former boss of BP, has said that chief financial officer Julian Metherell is stepping down.
Metherell will be replaced by Ben Monaghan, an oil and gas banker with JP Morgan.
Monaghan was head of Europe, Middle East and Africa oil and gas investment banking at JP Morgan, having worked in in the oil and gas team for the last 20 years.
He will join the four year-old company following a period of transition prior Metherell’s departure.
Rodney Chase, chairman of Genel, said: “Julian has played an integral role in unlocking the value of our world-class assets in the Kurdistan Region of Iraq. He leaves the company with a robust balance sheet and the financial strength to prosper.
“Ben has exactly the experience and expertise to further this success, and the board looks forward to working with him as we continue to build on our position as a leading exploration and production company.”