Australian banker Ken Borda is to replace Peter Coates as chairman of oil and gas producer Santos.
Mr Coates has taken a full-time executive job at the merged Glencore-Xstrata resources group and told Santos he could no longer devote the time required as chairman.
He has previously been chief executive of Xstrata's global coal business and separately headed Glencore's coal operations.
Mr Borda, 60, had a 17-year career at Deutsche Bank holding regional chief executive roles in the Asia Pacific, the Middle East, and Australia.
He will take on his new role on May 9.
Mr Borda is the current chair of Santos's finance committee.
Santos shares were two cents lower at $12.57 at 1234 AEST.