Simon Lowth steps down as AZ’s CFO

AstraZeneca's chief financial officer Simon Lowth is set to leave the pharma company to take up a similar position at natural gas firm BG Group.

Lowth will step down in October after six years at the company, including a spell as interim CEO in 2012 following the departure of David Brennan.

AZ later hired Roche's former chief operating officer Pascal Soriot to fill the top job and he has since sought to rejuvenate the company's ailing research efforts and announced plans to move its global headquarters from London to Cambridge.

Commenting on Lowth's departure 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.

“Personally, I will miss our interactions and I would like to thank him for all his support over the last few months.”

Lowth succeeds interim chief financial officer Den Jones at BG Group, with this new role marking another path in a varied financial and business career, which includes his role as corporate strategy director at Scottish power from 2003 to 2007 prior to his time at AZ.

Lowth previously spent 15 years working for McKinsey & Company, including his most senior role as the director responsible for the UK industrial practice.

“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,” said Lowth.

AZ said a search for Lowth's successor is underway.