Shell executive named TAQA finance chief

The Abu Dhabi National Energy Company (TAQA) has named a former executive from the Royal Dutch Shell as its new finance chief following the resignation of its Canadian financial officer. In a statement on Thursday, the Abu Dhabi government-controlled TAQA said its CFO Doug Fraser is returning home in Canada after announcing his intention to resign early this year. “Stephen Kersley has been appointed as the CFO, and will take up his duties from 22 May 2011,” the statement said. “Stephen's appointment as CFO comes after many years of wide-ranging experience at Shell. He brings more than 20 years of corporate finance, strategic planning and management experience to TAQA, having recently served as Vice President – Finance.” It said Stephen would be based in the company’s corporate headquarters in Abu Dhabi and will provide input and financial leadership to the company. He will also have responsibility for the development and execution of the financial strategy. “Over the past three years, Doug has made a significant contribution to TAQA’s financial management and investor relations. For some time, Doug has made clear his wish to return to Canada, to spend more time with his family. We are grateful to Doug for his service and wish him well in all his future endeavours,“ said Abdulla Saif Al Nuaimi, TAQA’s CEO and Managing Director. Fraser said it was a “very difficult decision” to leave adding that he was returning home to be “closer to my family, which is a better fit for my goals and aspirations at this stage in my life.” Commenting on his appoinmet, Kersley said:”“TAQA has grown tremendously over the last few years, building a robust global energy business. I look forward to working with the team to help take the business through the next stage of its development.” TAQA said Doug will remain with the company until 30 June, allowing sufficient time for a “seamless” transition.