Balfour Beatty CFO to step down after more than ten years

(Sharecast News) - Infrastructure group Balfour Beatty revealed on Tuesday that chief financial officer Phil Harrison will step down from the board later this year following more than ten years in the role. Harrison will remain a director of the company and continue to fulfil his current role until Myles Westcott, currently group financial controller at BAE Systems, succeeds him later in the year.

Westcott's exact start date was still subject to finalising his departure date from BAE Systems, however, Harrison was expected to support the business through its 2025 full year results in March.

Following Westcott's' appointment, Harrison will stay on with Balfour Beatty in an advisory capacity for a further four months to ensure a smooth transition.

Chief executive Philip Hoare said: "I look forward to welcoming Myles to Balfour Beatty. He brings deep financial expertise and a strong track record of operating at scale within complex, international organisations, which will be critical as we continue to drive disciplined profitable growth.

"I would like to thank Phil for the significant contribution he has made over more than a decade. His leadership has been instrumental in building Balfour Beatty's financial strength and resilience, creating substantial value for shareholders, and positioning the group so well for the future."

Reporting by Iain Gilbert at Sharecast.com