Leo Quinn to step down as Balfour Beatty CEO

Leo Quinn, the CEO of London-based development large Balfour Beatty, will step down from the place in September, in response to a Wednesday news release from the corporate. He will probably be succeeded by Philip Hoare, chief working officer of AtkinsRéalis, an engineering and nuclear providers enterprise primarily based in Montreal.

Hoare, a civil engineer by coaching, constructed his 30-year profession within the {industry} at AtkinsRéalis Group, in response to the information launch. He served as CEO of Atkins within the U.Okay. and Europe, after which as president of the worldwide engineering providers enterprise for the agency. 

Following Hoare’s appointment to Balfour Beatty’s board of administrators in September, Quinn will proceed in an advisory capability for a number of months to help with the transition.

“It has been my nice privilege to guide Balfour Beatty by over ten years of transformation right into a centered and main worldwide infrastructure Group,” Quinn mentioned within the launch. “I consider that our industry-leading security efficiency, monetary energy and strategic place in development markets come from instantly investing in excellent individuals to make sure what’s now an enviable 115-year heritage.”

Quinn started his construction career at Balfour Beatty as a civil engineer in 1979, in response to The Unbiased. He left to take govt positions at corporations throughout the AEC house till he joined Balfour Beatty’s board of administrators in 2015 within the chief govt function, per his LinkedIn profile.

On the time, the corporate had issued 5 revenue warnings inside two years, and was warding off a takeover try by then-industry large Carillion, The Unbiased reported. Carillion, headquartered in Wolverhampton, England, collapsed under the weight of its debt in 2018.

Right this moment, Balfour Beatty is likely one of the largest contractors within the U.Okay., and its U.S. arm is ranked 32 amongst all industrial contractors within the nation by income, according to Engineering News-Record.

The corporate’s flagship mission is the construction of High Speed 2, Britain’s forthcoming high-speed railway, alongside infrastructure titan Vinci. Nevertheless, prices have ballooned since construction began in 2020, in response to The Guardian. The British authorities has since canceled legs of the mission, and introduced in October that it was launching an investigation into the mission’s oversight.

Succession plans

Quinn’s departure marks a minimum of the fourth main development CEO change of 2025. Ron Tutor, the longtime CEO of Los Angeles-based Tutor Perini, stepped down in January, and former CFO Gary Smalley took the reins. The change was introduced in November 2023. 

The transfer occurred concurrently with Derek Cunz taking over the lead role at Minneapolis-based Mortenson from Dan Johnson, who retired, to begin the brand new yr. That long-planned change was introduced in September. 

Then final month, Irving, Texas-based Fluor revealed that Jim Breuer, the corporate’s chief working officer, would step into the CEO role and take over from chief govt David Constable on Could 1.