Carillion chairman Philip Green is expected to head up the £3bn construction giant that will be created from the company’s planned merger with flailing rival Balfour Beatty.
Usually after a merger the top roles are divided, but Carillion’s chief executive Richard Howson is also set to take up the same role at the combined company, according to the Sunday Times, citing sources.
Balfour Beatty has had a tumultuous 18 months, leading to a string of profit warnings. Chief executive Andrew McNaughton was asked to step down in May after just one year in charge, with chairman Steve Marshall taking up the role on an interim basis until a permanent replacement is found.
It is thought that Marshall will be appointed deputy chairman at the enlarged company.
Last week, both companies confirmed that they were in talks about a possible merger. They have until 21 August to announce a firm intention to merge or shelve plans for a deal. Carillion and Balfour Beatty declined to comment.