Balfour Beatty Announces Forthcoming Board change
04 November 2014
International infrastructure group Balfour Beatty today announces that Duncan Magrath will leave the business in 2015 following a process to appoint his successor. He has been with the company for eight years, including six years as Chief Financial Officer (CFO).
Duncan will continue as a member of the Board and as CFO until his successor has been identified. A search to find a new CFO for Balfour Beatty is being initiated and a further announcement will be made in due course.
Steve Marshall, Executive Chairman, 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. In the meantime, he will continue on the Board as Group CFO, and will remain as strongly committed to this role as he has always been."
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About Balfour Beatty
Balfour Beatty (www.balfourbeatty.com) is an international infrastructure group that delivers world class services essential to the development, creation and care of infrastructure assets; from finance and development, through design and project management to construction and maintenance. Our businesses draw on more than 100 years of experience to deliver the highest levels of quality, safety and technical expertise to our clients principally in the UK and the USA, with developing businesses in Australia, Canada, the Middle East and South East Asia. With proven expertise in delivering infrastructure critical to support communities and society today and in the future, our key market sectors focus on infrastructure - transportation (roads, rail and aviation), power and energy, water, and complex buildings (both commercial and social).
Balfour Beatty employs 40,000 people around the world.
Duncan Magrath was appointed to the Board of Balfour Beatty in 2008, having joined the company in 2006 as deputy finance director from Exel. He spent 13 years at Exel in a number of senior finance roles in both the UK and US, latterly as director of investor relations and financial strategy. Prior to this he worked at Price Waterhouse. He is a non-executive director of Brammer plc and a Fellow of the Institute of Chartered Accountants.