19th Feb 2008 07:00
Balfour Beatty PLC19 February 2008 19 February 2008 BALFOUR BEATTY PLC BOARD APPOINTMENTS The Balfour Beatty Group has grown successfully and substantially over recentyears. This trend is expected to continue as both the Group's core contractingand investment businesses acquire and expand and Balfour Beatty furtherestablishes itself in its chosen markets overseas. Most recently, theannouncement of an agreement to buy GMH Military Housing (GMH), the US militaryaccommodation PPP concession company, taken together with Balfour Beatty Capitalin the UK, will create an international portfolio of 42 infrastructureinvestments, including those at preferred bidder stage. In this context, Balfour Beatty announces today the appointment of AnthonyRabin, currently its Finance Director, as Deputy Chief Executive of BalfourBeatty plc. In this role, he will take responsibility for the management anddevelopment of the Group's infrastructure investment businesses in the UK,Europe, South-East Asia and the US, including direct line managementresponsibility for GMH. He has been Finance Director since 2003, following fiveyears in which he was responsible for the successful establishment of theGroup's UK PPP business. He will be succeeded as Finance Director by Duncan Magrath, Deputy FinanceDirector of Balfour Beatty plc since March 2006, who will join the Board. DuncanMagrath, who is 43, is a Chartered Accountant and a graduate engineer. He joinedthe Group from Exel plc where he was Director of Investor Relations andFinancial Strategy. Prior to that, he carried out a number of senior financeroles in both the UK and in the US. He spent the early part of his career atPrice Waterhouse. Commenting on the new appointments, Balfour Beatty Chief Executive, Ian Tyler,said: "Our strong, continuing growth makes it appropriate to strengthen furtherBalfour Beatty's senior management team. Anthony Rabin has done an excellent jobas Finance Director since 2003 and will now, together with some otherresponsibilities, take direct responsibility for the direction and developmentof our very substantial infrastructure investment business, which is a strategicpriority for the Group. The structure of the Group's construction andengineering activities, which continue to report directly to me, will alsoevolve over time as the business increases in scope and scale. "Since joining us in 2006 as Anthony's deputy, Duncan has amply demonstrated hissuitability to step up into the senior finance role and I am delighted toannounce his appointment as Finance Director." These changes will become effective on Monday 31 March. ENDS Enquiries to:Tim SharpTel: 020 7216 6884www.balfourbeatty.com * * * * * * * * * High resolution photographs are available to the media free of charge atwww.newscast.co.uk (tel +44 (0)20 7608 1000). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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