Bumi lines up former BP executive as chairman

Bumi, the coal miner founded by Nat Rothschild, has lined up a former BP executive John Manzoni as its new chairman, the Financial Times reported.

Manzoni, who spent 24 years at BP before becoming chief executive of Talisman Energy, a Canadian explorer, has agreed to join the miner, according to people familiar with the situation.

Manzoni?s appointment hinges on Bumi completing its separation from Indonesia?s powerful Bakrie family which co-founded the company.

The family has pledged to buy back the company?s stake in Bumi Resources, another Indonesian coal miner. Bumi declined to comment.

Bumi was formed in 2010 in a $3bn deal that involved Indonesian coal assets linked to the Bakrie family reversed into a cash shell formed by Mr Rothschild.

Manzoni, who is also a director at SABMiller, the brewer, has spent most of his career in the oil and gas business. He left BP in 2007 shortly after Tony Hayward took over from Lord Browne as chief executive. Mr Manzoni had been considered a strong contender to succeed Lord Browne.

He stepped down from Talisman in September, fueling speculation that it could be another independent company in Canada to fall prey to a takeover bid.(*)