Former Oil Executive Welby Named as Archbishop of Canterbury

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Justin Welby, the Bishop of Durham and a former oil-industry executive, has been chosen as the next Archbishop of Canterbury to lead the 85 million-strong Anglican communion, Prime Minister David Cameron’s office said.

Welby, 56, will succeed Rowan Williams, who announced his retirement in March, becoming the first holder of the post with hands-on experience of the corporate-bond market and trading derivatives during a business career that culminated in a role as treasurer of Enterprise Oil Plc in the late 1980s. Cameron’s office made the announcement in a statement today.