Philip Hoare has taken over from Leo Quinn as chief executive of Balfour Beatty Group.
He has joined Balfour Beatty from consulting engineer Atkins, where he was chief executive of its UK and Europe operations, then president of the global Engineering Services business and finally chief operating officer of the Canadian-listed group.
Stepping in to his new role, Philip Hoare said: 鈥淚 am honoured to lead Balfour Beatty in its next chapter. The financial and operational strengths of the group 鈥� including market-leading capabilities in core growth markets - place us in a strong position for the future. With significant opportunities ahead and a talented team in an industry that is rapidly evolving, I am energised by both the challenge and the responsibility. I look forward to listening, learning, and leading as we take the next steps forward, together.鈥�
He takes the helm of a London Stock Exchange listed international contractor with a 拢19.5bn order book and an additional 拢20bn pipeline, with average net cash exceeding 拢1.1bn and a 拢1.2bn investments portfolio.
Group chair Charles Allen (Lord Allen of Kensington) said: 鈥淥n behalf of the board, I am delighted to welcome Philip Hoare as group chief executive. Philip brings with him a wealth of experience and a proven track record of leadership across the global infrastructure and engineering sectors. As Balfour Beatty enters its next chapter, we are confident that under Philip鈥檚 leadership, the group will continue to build on the strong foundations laid over the past decade and drive forward sustainable, long-term growth.鈥�
Hoare's predecessor, Leo Quinn, joined Balfour Beatty in 2014 and is credited with having turned the business around, from making a 拢199m loss when he arrived to a pre-tax profit of more than 拢200m in each of the last two years, although turnover has remained at around 拢10bn over that time.
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