Balfour Beatty names new CEO

Leo Quinn, head of defence company QinetiQ, has been named as Balfour Beatty’s new CEO.

The announcement comes in a turbulent period for Balfour Beatty, which has seen its share price dive following three profit warnings this year. The first warning in May prompted the resignation of CEO Andrew Mcnaughton. Chairman Steve Marshall has since held the CEO role on an interim basis.

Mr Quinn will take up the position in January, following five years leading defence and aerospace company Qinetiq and previously serving as global president of Honeywell Building Controls. A graduate from Imperial College London, he returns to the company he first joined in 1979 as a civil engineer.

Mr Quinn said, “Balfour Beatty is a world-leading brand with world-leading talent. Having started my career there, I am very proud to be rejoining a company so ingrained in British engineering, and am resolute in my ambition to realise its enormous potential for customers, employees and investors.

“The building blocks are there to give Balfour Beatty’s people the success they deserve and I am keen to work with them to create something significant and lasting.”

Executive chairman, Steve Marshall, added, “I am delighted to welcome Leo to Balfour Beatty. Leo is an outstanding individual with an excellent track record in improving the performance of major international businesses. He has the depth and breadth of experience and the drive to lead our company through the next stage of its development. I am confident that Balfour Beatty will thrive under Leo’s leadership.”