International infrastructure group Balfour Beatty has announced 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).
Mr. Magrath 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."
Two weeks ago the firm announced the appointment of Leo Quinn as its new Chief Executive Officer who will take up his new position and join the Board on 1 January 2015.
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