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Balfour Beatty plc board appointments

The Balfour Beatty Group has grown successfully and substantially over recent years. This trend is expected to continue as both the Group’s core contracting and investment businesses acquire and expand and Balfour Beatty further establishes itself in its chosen markets overseas. Most recently, the announcement of an agreement to buy GMH Military Housing (GMH), the US military accommodation PPP concession company, taken together with Balfour Beatty Capital in the UK, will create an international portfolio of 42 infrastructure investments, including those at preferred bidder stage.

In this context, Balfour Beatty announces today the appointment of Anthony Rabin, currently its Finance Director, as Deputy Chief Executive of Balfour Beatty plc. In this role, he will take responsibility for the management and development of the Group’s infrastructure investment businesses in the UK, Europe, South-East Asia and the US, including direct line management responsibility for GMH. He has been Finance Director since 2003, following five years in which he was responsible for the successful establishment of the Group’s UK PPP business.

He will be succeeded as Finance Director by Duncan Magrath, Deputy Finance Director of Balfour Beatty plc since March 2006, who will join the Board. Duncan Magrath, who is 43, is a Chartered Accountant and a graduate engineer. He joined the Group from Exel plc where he was Director of Investor Relations and Financial Strategy. Prior to that, he carried out a number of senior finance roles in both the UK and in the US. He spent the early part of his career at Price Waterhouse.

Commenting on the new appointments, Balfour Beatty Chief Executive, Ian Tyler, said:

“Our strong, continuing growth makes it appropriate to strengthen further Balfour Beatty’s senior management team. Anthony Rabin has done an excellent job as Finance Director since 2003 and will now, together with some other responsibilities, take direct responsibility for the direction and development of our very substantial infrastructure investment business, which is a strategic priority for the Group. The structure of the Group’s construction and engineering activities, which continue to report directly to me, will also evolve over time as the business increases in scope and scale.

“Since joining us in 2006 as Anthony’s deputy, Duncan has amply demonstrated his suitability to step up into the senior finance role and I am delighted to announce his appointment as Finance Director.”

These changes will become effective on Monday 31 March.

ENDS

Enquiries to:
Tim Sharp
Tel: 020 7216 6884
www.balfourbeatty.com

Notes to Editors

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