SIMON Lowth, a key protagonist in a boardroom clear-out at ScottishPower eight years ago, is to return to the energy industry as finance director for BG Group with a package of up to £5.3 million.
He will join the gas company in November from pharmaceutical giant AstraZeneca where he held the same post.
He has been hired on a basic salary of £725,000.
If his incentive package is similar to that awarded by BG in past years he can expect a pension contribution of £225,000, a bonus of up to £1.1m and £3.3m in long-term incentives, taking his potential package up to £5.3m.
BG, like ScottishPower a former state-owned company, will also compensate him for the loss of his 2013 AstraZeneca bonus and long-term incentive awards
He will keep AstraZeneca shares awarded as part of his bonus for previous years.
BG Group chief executive Chris Finlayson said: "Simon knows the gas and power industry well and has a good background in engineering.
"He brings with him a great combination of finance, capital allocation, value-based planning, portfolio management and strategy skills."
Mr Lowth will leave AstraZeneca at the end of October following its third-quarter results.
He said: "BG Group is an outstanding company in a sector that I know well and I look forward to working with the team to build on its successes and deliver on the opportunities in this next stage of its evolution."
Mr Lowth was AstraZeneca's interim chief executive after the departure of David Brennan last year.
But the company hired Pascal Soriot from rival Roche for the permanent post.
Mr Soriot said: "Simon has made a significant and lasting contribution to AstraZeneca's success, helping put the company on a stronger footing for the future."
Mr Lowth will replace BG's interim chief financial officer Den Jones, who stepped in when incumbent Fabio Barbosa fell ill and then retired.
At ScottishPower in 2005 Mr Lowth and chief executive Ian Russell oversaw a boardroom clear-out that led to the exit of executives Charles Berry and David Nish, now chairman of Weir Group and chief executive of Standard Life respectively.
The former management consultant with McKinsey & Company remained with ScottishPower until 2007.
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