{"id":149225,"date":"2025-03-05T09:53:33","date_gmt":"2025-03-05T09:53:33","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=149225"},"modified":"2025-03-05T09:53:33","modified_gmt":"2025-03-05T09:53:33","slug":"balfour-beatty-chief-executive-step-down-later-this-year","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/people\/balfour-beatty-chief-executive-step-down-later-this-year\/149225\/","title":{"rendered":"Balfour Beatty chief executive to step down later this year"},"content":{"rendered":"<h2>Leo Quinn, chief executive of <a href=\"https:\/\/www.balfourbeatty.com\/about-us\/understanding-balfour-beatty\/\" target=\"_blank\" rel=\"noopener\">Balfour Beatty<\/a> for over a decade, has announced that he will be replaced later this year<\/h2>\n<p>Philip Hoare, current chief operating officer at AtkinsR\u00e9alis, has been chosen to be Quinn\u2019s successor.<\/p>\n<p>Philip will join the Group in September.<\/p>\n<h3>Philip has spent thirty years with AtkinsR\u00e9alis<\/h3>\n<p>Philip\u2019s experience and leadership in the engineering, project management, and construction sectors has been a great boos to the company, causing growth and an increase in performance as Philip performed duties as CEO of Atkins in the UK and Europe, and then as President of the global Engineering Services business.<\/p>\n<p>Philip was made chief operating officer in January 2024 in order to further boost growth and performance and lead a portfolio of <a href=\"https:\/\/www.pbctoday.co.uk\/news\/projects\/balfour-beatty-build-student-housing-florida-worth-168m\/145062\/\" target=\"_blank\" rel=\"noopener\">international projects.<\/a><\/p>\n<p>Once Philip has assumed the role as Balfour Beatty\u2019s chief executive, Leo Quinn will drop to an advisory role for him to smooth out the transition process.<\/p>\n<p>Under Leo\u2019s leadership from 2014-2024, Balfour Beatty saw its balance sheet raise from a net debt of \u00a3371m to an average net cash of \u00a3735m. This rise saw \u00a3755m of capital returned to shareholders in dividends and buybacks between 2021 and 2024.<\/p>\n<p>Leo has seen total shareholder returns (TSR) of 261% in his time since starting in October 2014, which is over three times the average in the FTSE250 index.<\/p>\n<h3>\u201cExceptional and inspirational leadership\u201d<\/h3>\n<p>Charles Allen, Lord Allen of Kensington, CBE, Balfour Beatty group chair, said: \u201cI 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\u2019s success in our chosen markets.<\/p>\n<p>\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.<\/p>\n<p>\u201cLeo 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 that is committed to expertise, discipline, and excellence, resulting in a trusted reputation for delivering value for all stakeholders.\u201d<\/p>\n<p>Leo Quinn, Balfour Beatty group chief executive, said: \u201cIt has been my great privilege to lead Balfour Beatty through over ten 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.\u201d<\/p>\n<p>Philip Hoare, incoming Balfour Beatty group chief executive, said: \u201cBalfour 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.\u201d<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The Balfour Beatty chief executive, Leo Quinn, has announced that he will step down in September this year and Philip Hoare will take his spot.<\/p>\n","protected":false},"author":32,"featured_media":149226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[172730],"tags":[619],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-149225","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-people","8":"tag-balfour-beatty"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Balfour Beatty chief executive to step down later this year<\/title>\n<meta name=\"description\" content=\"The Balfour Beatty chief executive, Leo Quinn, has announced that he will step down in September this year and Philip Hoare will take his spot\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/people\/balfour-beatty-chief-executive-step-down-later-this-year\/149225\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Balfour Beatty chief executive to step down later this year\" \/>\n<meta property=\"og:description\" content=\"The Balfour Beatty chief executive, Leo Quinn, has announced that he will step down in September this year and Philip Hoare will take his spot\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/people\/balfour-beatty-chief-executive-step-down-later-this-year\/149225\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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