Balfour Beatty’s new chairman fails to charm the stockmarket
INFRASTRUCTURE group Balfour Beatty will welcome Philip Aiken as non-executive chairman on 26 March, replacing Steve Marshall who is retiring after 10 years at the company.
Aiken is currently non-executive chairman of Aveva Group, and a non-executive director of both Newcrest Mining and National Grid, although he is stepping down from the National Grid board on 25 February.
Balfour’s planning and developments director Peter Zinkin is to step down from the board on 25 March and will retire in August.
Leo Quinn, Balfour’s chief executive, highlighted Aiken’s “many years of highly relevant international board-level experience at the top of industry” and added: “We look forward to his valuable contribution to the business, including areas of paramount importance to the group such as safety.”
Shares in Balfour Beatty dropped by 2.24 per cent yesterday.