Petrofac confirms appointment of Alastair Cochran as CFO

Petrofac confirmed the appointment of Alastair Cochran as chief financial officer and executive director, succeeding Tim Weller, with effect from Thursday 20 October.

Cochran was most recently Transition Head of BG Global Strategy & Business Development, overseeing the integration of BG Group following its acquisition by Royal Dutch Shell. Prior to that, he was group Head of M&A and Corporate Finance at BG Group.

In addition, the oil and gas services group said on Friday that non-executive director Kathleen Hogenson will step down from the board at the end of this month and Jane Sadowsky will join as a non-exec director on 1 November.

Sadowsky is currently managing partner of Gardener Advisory LLC, a consulting firm focused on providing services to the power, utility and infrastructure sectors.

Petrofac said she “brings an in-depth experience of structuring cross-border joint ventures, financing advice and general strategic work gained during a career of over 20 years in investment banking”.

The company had announced that Weller was leaving back in August.

At 1140 BST, Petrofac shares were down 0.8% to 900.50p.