EG Group is in advanced talks to appoint former BP executive John Carey as an independent director, Sky News learns.
The petrol stations giant founded by two of Britain’s most successful sibling-entrepreneurs is about to take a big step towards addressing doubts about its corporate governance by naming a slate of independent board members.
Sky News has learnt that John Carey, a former BP executive, is in advanced talks to join EG Group as a non-executive director.
An announcement could be made as soon as next week, according to one insider.
City sources said on Friday that EG is lining up another heavyweight independent director to serve as chair of the company’s audit committee, while the recruitment of a non-executive chairman is also under way.
The appointment of Mr Carey, who also worked for the Abu Dhabi national oil company Adnoc Distribution as its deputy chief executive, will come as EG Group’s founders, Mohsin and Zuber Issa, prepare to complete their most prominent takeover to date: the £6.8bn purchase of Asda.
The billionaire brothers are acquiring the supermarket giant alongside TDR Capital, the private equity firm which has been a major shareholder in EG Group since 2015.
Together, the shareholders have built EG into one of the world’s largest operators of petrol forecourts, with operations in ten countries and 44,000…
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