Andrew McNaughton will become Balfour Beatty’s deputy chief executive at the end of next month, following the retirement of Anthony Rabin.
Mr McNaughton, who has been chief operating officer for the past three years, will also assume Mr Rabin’s responsibilities for the group’s Infrastructure Investments Division. Mr Rabin announced his retirement in March.
The move appears to be a change from the March announcement, which said Mr Rabin’s role as deputy chief executive will not be replaced on the board, but that Mr McNaughton would take on the duty of growing the infrastructure investments division.
A spokesman said today that Mr McNaughton will also retain all his current COO responsibilities. Ian Rylatt, manaing director at Balfour Betaty Capital, will report directly to Mr McNaughton.
Mr McNaughton earned a total of £647,500 in 2011 as chief operating officer. Mr Rabin earned £717,000 as deputy chief executive in 2011, while chief executive Ian Tyler earned more than £1 million.
IThe company also announced today that Robert Walvis, senior independent director at Balfour Beatty, will retire from the board on 31 December 2012 after more than 10 years with the group.
Iain Ferguson, currently chairman of the remuneration committee, will also assume the role of senior independent director, with immediate effect.
Former General Motors executive Maureen Kempston Darkes will join as a non-executive director in July. Ms Kempston Darkes – a trained lawyer – is a former group vice-president, General Motors Corporation and President, Latin America, Africa and Middle East
Her non executive directorships include at Brookfield Asset Management Inc, Bridgepoint Health Foundation, Enbridge Inc, Canadian National Railway and Irving Oil Company.
Balfour Beatty Chairman Steve Marshall said; “On behalf of myself and my colleagues on the board, we would like to take this opportunity to congratulate Andrew McNaughton on his appointment and offer Robert Walvis our sincere thanks for the very significant contributions he has made during his tenure as a non-executive director.
“We are delighted to welcome Maureen Kempston Darkes to our board. Balfour Beatty has an increasing focus on vertical industry sectors and emerging markets and the considerable experience Maureen will bring to board discussions in these areas will add further strength and depth as we move forward with the next phase of our strategic development.”