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Hogg Robinson group finance director Philip Harrison to become Balfour Beatty CFO

Balfour Beatty has poached the group finance director of travel company Hogg Robinson as its new chief financial officer.

Philip Harrison will have a basic annual salary of £400,000 and will start his role later this year.

He will replace outgoing CFO Duncan Magrath, who is leaving after eight years with the company.

Mr Harrison will join new Balfour Beatty chief executive Leo Quinn, who began this year on a basic salary of £800,000.

Mr Quinn replaced former CEO Andrew McNaughton, who announced his resignation in May last year, after the group issued a £30m profit warning.

In previous roles Mr Harrison was the group finance director of government support services business VT Group.

He was also the vice-president of Hewlett-Packard’s Europe, Middle East and Africa region and a member of the EMEA board.

Mr Quinn said: “[Philip’s] strong understanding of businesses that bid and deliver major contracts globally and his track record in embedding strong financial controls across complex companies are essential in our drive to improve cash generation and reduce overheads.

“At the same time, the board would like to thank Duncan Magrath for his continued commitment and support until the appropriate handover is concluded.”

Executive chairman Steve Marshall will also depart the company once his replacement is found.

In a statement this morning, the group said the search for a new chairman was “progressing well” and an announcement will be made in due course.

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