By Shivangi Lahiri
Dec 19 (Reuters) - Santos said on Friday it has appointed longtime executive Lachlan Harris as its chief financial officer, as the Australian gas producer navigates a transition period tied to its key Barossa and Pikka projects.
The appointment follows the October exit of former CFO Sherry Duhe after just one year in the role.
At the time, analysts said Duhe's exit left Santos without a clear succession plan, with Duhe widely viewed as a potential successor to chief executive Kevin
Gallagher should he step down.
Harris, a 15-year Santos veteran, has previously served as treasurer and as deputy CFO. Gallagher said Harris has a "proven track record of driving major initiatives" at the company, citing his leadership of Santos' $1 billion 10-year bond offering, which he said was significantly oversubscribed.
Gallagher had mentioned in his remarks in the firm's third-quarter production report in October that "together, Barossa LNG and Pikka phase 1 are expected to lift Santos' production compared to 2024 levels, by around 30 percent by 2027."
Shares of Santos were down as much as 0.9% at A$6.045 by 2321 GMT.
"Harris has a relatively limited profile with investors," said John Lockton, head of investment strategy at MST Financial, adding that Harris had been "overlooked" for the CFO role when Duhe joined in September 2024 as Santos' first externally appointed CFO.
Lockton said the appointment underscored that Santos "remained a chairman Keith Spence and CEO Gallagher-led organisation", and that the board had reverted to an internal candidate.
Back in October, Duhe said she had already resigned by the time Spence told her that her services were no longer required.
(Reporting by Shivangi Lahiri in Bengaluru; Editing by Alan Barona)
