In an eventful year last year, Balfour Beatty sacked its chief executive and saw its chairman and finance director both hand in their notice.
Leo Quinn joined in January from defence research firm QinetiQ to take over as the new chief executive. Today Balfour Beatty has announced the appointment of Philip Harrison as chief financial officer. He will take up his new position and join the board later in the year. He is currently group finance director at travel agent Hogg Robinson and has previously worked for VT Group and Hewlett-Packard.
Leo Quinn said: "We are delighted to have found and attracted a candidate of Philip's experience and calibre and he will be joining a leadership team committed to restoring Balfour Beatty to strength. His strong understanding of businesses that bid and deliver major contracts globally and his track record in embedding strong financial controls across complex companies are essential in our drive to improve cash generation and reduce overheads.
"At the same time, the board would like to thank Duncan Magrath for his continued commitment and support until the appropriate handover is concluded."
Mr Harrison will be paid a basic annual salary of £400,000 plus pension, benefits and bonus entitlements.
The search for a new chairman to replace Steve Marshall is “progressing well”, the company said, and an announcement is expected “in due course”.
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