Balfour Beatty, the international infrastructure group, announces that Andrew McNaughton has stepped down as Chief Executive of the Group and as an Executive Director of the Board with immediate effect.
Steve Marshall, Balfour Beatty’s Non-Executive Chairman, will take over as Executive Chairman until a successor is appointed. He will be devoting a significant amount of time to the Group in this interim period, and will lead the Group’s Executive Committee. The Board will commence a process to appoint a successor to Andrew McNaughton shortly.
Steve Marshall said: “Andrew has served the Group for the last 17 years in a wide variety of roles. I would like to thank Andrew personally and on behalf of the Board for his major contribution. We wish him well for the future.”
The Group has today also separately announced a trading update, 2014 Q1 IMS and strategic review.
Analyst/investor enquiries:
Anoop Kang
Balfour Beatty plc
Tel. +44 (0)20 7216 6913
anoop.kang@balfourbeatty.com
Media enquiries:
Patrick Kerr
Balfour Beatty plc
Tel. +44 (0)20 7963 4258
patrick.kerr@balfourbeatty.com
Neil Bennett/Liz Morley
Maitland
Tel. +44 (0)20 7379 5151
nbennett@maitland.co.uk
emorley@maitland.co.uk
Notes to editors:
Annual General Meeting
Andrew McNaughton will not be standing for re-election as a Director at the Company’s Annual General Meeting to be held on 15 May 2014 and accordingly Resolution 10 is redundant.
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, South Africa 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.
