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Genel Energy to replace CFO Metherell with former JP Morgan banker -Sky News
2/2/2015
Ben Monaghan,
Genel Energy Plc, one of the main oil producers in Iraqi Kurdistan, will announce the departure of its chief financial officer, Julian Metherell, on Monday, Sky News reported. Metherell, a former partner at Goldman Sachs, will be replaced by Ben Monaghan, an oil and gas banker with JPMorgan who resigned last week, Sky News said on its website. Monaghan's appointment is likely to presage further changes in the near year or so, one of them being Chief Executive Tony Hayward expected to move into the role of company chairman, Sky News said. The management change comes at a time when oil companies globally are grappling with a sharp fall in crude prices, forcing them to trim costs and rein in investments. In January, Genel slashed its 2015 revenue forecast, citing weak crude prices, and said it would cut jobs to reduce costs. Genel declined to comment on the report. (Reporting by Rama Venkat Raman in Bengaluru; Editing by Alison Williams and Eric Walsh
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2/2/2015
Ben Monaghan,
Genel Energy Plc, one of the main oil producers in Iraqi Kurdistan, will announce the departure of its chief financial officer, Julian Metherell, on Monday, Sky News reported. Metherell, a former partner at Goldman Sachs, will be replaced by Ben Monaghan, an oil and gas banker with JPMorgan who resigned last week, Sky News said on its website. Monaghan's appointment is likely to presage further changes in the near year or so, one of them being Chief Executive Tony Hayward expected to move into the role of company chairman, Sky News said. The management change comes at a time when oil companies globally are grappling with a sharp fall in crude prices, forcing them to trim costs and rein in investments. In January, Genel slashed its 2015 revenue forecast, citing weak crude prices, and said it would cut jobs to reduce costs. Genel declined to comment on the report. (Reporting by Rama Venkat Raman in Bengaluru; Editing by Alison Williams and Eric Walsh
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