{"id":515839,"date":"2025-03-05T08:32:23","date_gmt":"2025-03-05T08:32:23","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=515839"},"modified":"2025-03-05T12:57:42","modified_gmt":"2025-03-05T12:57:42","slug":"leo-quinn-to-step-down-as-balfour-beatty-chief-executive","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/peoplemoves\/leo-quinn-to-step-down-as-balfour-beatty-chief-executive-05-03-2025\/","title":{"rendered":"Leo Quinn to step down as Balfour Beatty chief executive"},"content":{"rendered":"

Leo Quinn is to step down from his role as Balfour Beatty\u2019s chief executive after 10 years at the helm.<\/span><\/p>\n

The UK\u2019s largest contractor has announced that Quinn will be succeeded by Philip Hoare, chief operating officer at AtkinsR\u00e9alis, in September.<\/span><\/p>\n

Quinn will continue in an advisory capacity for several months to ensure a seamless transition, according to a statement from Balfour Beatty<\/a>.<\/span><\/p>\n

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Long read: The Mighty Quinn – A timeline of Balfour Beatty’s turnaround<\/span><\/a><\/p>\n

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Charles Allen, Balfour Beatty group chair, said: \u201cOn 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.\u00a0<\/span><\/p>\n

\u201cLeo has transformed Balfour Beatty into a strong, resilient group, setting it firmly on a trajectory of profitable growth. <\/span><\/p>\n

\u201cThis 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.\u201d<\/span><\/p>\n

He said that Hoare\u2019s \u201cdepth of industry knowledge and his experience in delivering a profitable growth strategy across multiple geographies\u201d make him the ideal successor.<\/span><\/p>\n

Hoare will receive a salary of \u00a3840,000 and a pension allowance of 7 per cent of salary.<\/span><\/p>\n

Quinn will receive his contractual entitlement of 12 months\u2019 notice.<\/span><\/p>\n

During Leo\u2019s tenure, Balfour Beatty has strengthened its balance sheet from average net debt of \u00a3371m in 2014 to \u00a3735m average net cash in 2024, the company said.<\/span><\/p>\n

\u201cGiven this strong cash performance, between 2021 and 2024, \u00a3755m of capital has been returned to shareholders through dividends and share buybacks.\u201d<\/span><\/p>\n

Last month, Balfour Beatty appointed three new sector<\/a> leads to focus on the UK\u2019s \u201ccritical\u201d growth areas.<\/p>\n","protected":false},"excerpt":{"rendered":"

Leo Quinn is to step down from his role as Balfour Beatty\u2019s chief executive after 10 years at the helm. The UK\u2019s largest contractor has announced that Quinn will be succeeded by Philip Hoare, chief operating officer at AtkinsR\u00e9alis, in September. Quinn will continue in an advisory capacity for several months to ensure a seamless …<\/p>\n","protected":false},"author":129711,"featured_media":382022,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false},"categories":[527,2167],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\t\n\t\n\t\n