Balfour Beatty names new chairman as Steve Marshall steps down

 
Catherine Neilan
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Steve Marshall: Retiring in March (Source: Balfour Beatty)
Balfour Beatty has named its new chairman ahead of the retirement of current incumbent Steve Marshall next month.
Aveva Group head Philip Aiken is being brought in as a non-executive chairman, and will pick up the reins on March 26.
As well as non-executive chairman of Aveva, Aiken is non-executive director of National Grid and of Newcrest Mining. He will step down from his National Grid role on February 25.
Marshall is retiring from the board on March 25, along with planning and developments director Peter Zinkin, though Zinkin will stay on at the company until August.
Marshall has been a director since 2005, rising to chairman in 2008. He was made executive chairman last May.
Balfour Beatty's chief executive Leo Quinn said: "Philip has many years of highly relevant international board-level experience at the top of industry and we look forward to his valuable contribution to the business, including areas of paramount importance to the group such as safety.”
He thanked Marshall and Zinken for their “many years of commitment and determination”. “[We] wish them well for the future,” Quinn added.
Aiken said: "I am very much looking forward to working with the board and the executive team in setting the business back on the course of value creation with Leo and his team.”
Balfour Beatty's share price was down one per cent in early trading.

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