LONDON, Nov 16 (Reuters) - Royal Dutch Shell plansto retain four members of BG Group's executive team afterthe companies' planned merger next year, according to aninternal memo seen by Reuters on Monday.
The memo indictates that the planned $70 billion takeover ofBG by Shell remains on track. Shell this month sought to easeinvestor concerns over the deal by announcing costs cuts andbenefits that would make it work despite lower oil prices.
According to the Shell document, BG's Chief OperatingOfficer Sami Iskander will become executive vice president forjoint ventures. Executive Vice President for Global EnergyMarketing and Shipping Steve Hill will be named executive vicepresident for gas and energy marketing and trading while BGGeneral Counsel Tom Melbye Eide will become general counsel forupstream.
Katie Jackson, BG Group's executive vice president forglobal strategy and business development, who joined the companylast year from Norwegian oil company Statoil, will alsotake up a yet unspecified role in the company, according to thememo.
Shell hopes to complete the proposed acquisition early nextyear. The merger, which will make Shell the world's topliquified natural gas trader and a key offshore oil prodicer,still requires regulatory approvals from Australia and Chinabefore being brought before shareholders.
A Shell spokesman confirmed the memo, which was firstreported by Bloomberg, saying the announcement "shows there ismomentum behind the proposed merger with BG Group."
A BG spokesman also confirmed the proposed appointments.
BG Chief Executive Officer Helge Lund, who joined thecompany from Statoil in February 2015, has said he would notstay on after the merger. (Reporting by Ron Bousso; Editing by Keith Weir)