BG Group reported that Fabio Barbosa has been appointed Chairman BG South America, reporting to Chief Executive Chris Finlayson, and has stepped down as Chief Financial Officer (CFO) and Executive Director for personal reasons. Fabio has also stepped down as a member of BG Group's Group Executive Committee and other committees.

As Chairman of BG South America, based in Rio de Janeiro, Fabio will provide senior counsel and advice to the BG teams in Bolivia, Chile, Uruguay, and Brazil.

Fabio was until June 2010 the CFO at Vale SA, the Brazilian mining company. Prior to that, he spent seven years in the Brazilian Ministry of Finance, rising to the role of National Treasury Secretary.

Commenting on Fabio's appointment, BG Group Chairman Andrew Gould said, "I would like to express on behalf of BG Group's Board our sincere thanks to Fabio for all his excellent work as CFO over the last two years. His efforts in the execution of the portfolio rationalisation programme and in diversifying and broadening our funding options and sources have been instrumental in materially strengthening our balance sheet position, helping underpin investment in, and the delivery of, our key global growth opportunities.

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