Balfour Beatty chief executive Leo Quinn will step down from the group’s board after more than a decade at the top of the UK’s biggest contractor.
He will be succeeded in September by Philip Hoare, chief operating officer at AtkinsRéalis.
Hoare’s appointment came after an “extensive international search”, said Balfour Beatty. The civil engineer has a three-decade career in the industry, including as CEO for the UK and Europe at Atkins before becoming president of the global engineering services business at AtkinsRéalis.
As AtkinsRéalis’s chief operating officer, he has led a portfolio of significant international projects.
Quinn will remain at Balfour Beatty in an advisory capacity for several months ahead of Hoare joining in the autumn.
Charles Allen, Balfour Beatty Group chair, said: “I am delighted Philip will join the group as chief executive. The selection process made clear that his depth of industry knowledge and his experience in delivering a profitable growth strategy across multiple geographies make him the ideal person to drive forward the group’s success in our chosen markets.
“On behalf of the Board, I pay tribute to Leo for his exceptional and inspirational leadership of both Balfour Beatty and the industry over the last decade.
“Leo has transformed Balfour Beatty into a strong, resilient group, setting it firmly on a trajectory of profitable growth. This is underpinned by a culture across its workforce which is committed to expertise, discipline and excellence, resulting in a trusted reputation for delivering value for all stakeholders.”
During Quinn’s tenure, Balfour Beatty went from an average net debt of £371m in 2014 to an average net cash of £735m in 2024, according to the contractor.
Investing in outstanding people
Quinn said: “It has been my great privilege to lead Balfour Beatty through over 10 years of transformation into a focused and leading international infrastructure group. I believe that our industry-leading safety performance, financial strength and strategic position in growth markets come from directly investing in outstanding people to ensure what is now an enviable 115-year heritage.”
Hoare commented: “Balfour Beatty is a cornerstone of the construction and infrastructure industry with an exciting future. I will be incredibly proud to lead the group in continuing to deliver exceptional infrastructure and services for its customers and communities, fantastic meaningful careers for colleagues and long-term value for its shareholders.”
