Builder Balfour Beatty (BBY.L) today announced that finance director Duncan Magrath is quitting the company, this news comes just weeks after Balfour Beatty announced its fifth profit warning in the last two years. Magrath, who has been with the company for 6 years will step down in 2015 once a permenant replacement has been found.
The company has experienced tough times recently, having been struggling to meet expectations and also having fought off an attempted takeover by fellow housebuilder Carillion.
Acting Chief Executive Steve Marshall said: ”Duncan has been our CFO for six years. He has shown huge personal commitment to Balfour Beatty, and particularly in the recent more challenging times, his contribution and his resolve under pressure has been unwavering.
Following the completion of the Parsons Brinckerhoff disposal and the announcement of our new group CEO, Duncan will be seeking new career challenges in 2015.”
Marshall himself will also step down soon as new Chief Executive has been announced as Leo Quinn, formerly of defence group Qinetiq.
Builder Balfour Beatty (BBY.L) today announced that finance director Duncan Magrath is quitting the company, this news comes just weeks after Balfour Beatty announced its fifth profit warning in the last two years. Magrath, who has been with the company for 6 years will step down in 2015 once a permenant replacement has been found.
The company has experienced tough times recently, having been struggling to meet expectations and also having fought off an attempted takeover by fellow housebuilder Carillion.
Acting Chief Executive Steve Marshall said: ”Duncan has been our CFO for six years. He has shown huge personal commitment to Balfour Beatty, and particularly in the recent more challenging times, his contribution and his resolve under pressure has been unwavering.
Following the completion of the Parsons Brinckerhoff disposal and the announcement of our new group CEO, Duncan will be seeking new career challenges in 2015.”
Marshall himself will also step down soon as new Chief Executive has been announced as Leo Quinn, formerly of defence group Qinetiq.
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