Caltex Australia appears to have resigned itself to the inevitability of a takeover by one of its rival suitors after appointing recently recruited chief financial officer Matthew Halliday as interim chief executive and putting on ice a search for a permanent replacement for retiring Julian Segal.

The promotion of the former Rio Tinto Alcan CFO leaves the more experienced fuels industry executive, Louise Warner - considered the lead internal candidate to replace Mr Segal - in charge of operations amid volatile and difficult conditions in both refining and retailing that hit full-year profits.