Former BG boss Finlayson lined up for Hayward's Genel role

An executive who left BG Group (EUREX: 1007667.EX - news) months before a takeover approach from Royal Dutch Shell (LSE: 0LN9.L - news) is being lined up to take the helm of Genel Energy (Other OTC: GEGYF - news) ‎, the oil company founded by former BP boss Tony Hayward.

Sky News has learnt that Chris Finlayson is the leading candidate to replace Mr Hayward as Genel's chairman.

An appointment is unlikely to be finalised until sometime in the new year, and Genel is also considering other candidates for the role, according to people close to the situation.

Mr Finlayson left BG‎ in 2014 following an unsuccessful stint as its boss amid sharp declines in the value of its Egyptian gas and US shale businesses.

Since his exit, he has revived his career with a string of boardroom posts, including chairmanships at Siccar Point Energy, which recently struck a deal to buy OMV (IOB: 0MKH.IL - news) 's North Sea assets.

He also chairs InterOil, which announced in July that it had agreed to a $2.5bn takeover by ExxonMobil, the world's largest listed oil company - a deal which faces delays after a Canadian legal ruling.

If Mr Finlayson does take the Genel role, he will face significant challenges rebuilding investor sentiment ‎in the wake of a disappointing share price performance since its listing five years ago.

Mr Hayward, who left BP in the aftermath of the Gulf of Mexico disaster in 2010, has also assembled a portfolio of roles, including the chairmanship of the commodities trading giant Glencore (HKSE: 0805.HK - news) .

Sky News recently revealed that he plans to acquire oil assets in Latin America through a project with Carlyle, the private equity group.

Genel, which is focused on assets in Kurdistan, has struggled amid reserves downgrades and the broader slump in oil prices.

Repeating an earlier statement, a Genel spokesman said: "Genel Energy is committed to having a strong board and, as you would expect, carefully considers succession planning in order to ensure a smooth transition of key roles at appropriate times.

"No decision has yet been made regarding the timing of any such transition.‎"

The spokesman declined to comment on discussions with Mr Finlayson, who also worked as a senior Shell (LSE: RDSB.L - news) executive.