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Duncan Magrath to exit Balfour Beatty in 2015

Balfour Beatty’s chief financial officer Duncan Magrath is to leave the group in 2015 after eight years with the business.

Mr Magrath, who was Balfour Beatty’s chief financial officer for six years, will continue as a member of the board and as CFO until his successor has been identified.

The company has already begun the search to fill the role.

Balfour Beatty executive chairman Steve Marshall, who will also depart once his replacement is found, said Mr Magrath had shown “huge personal commitment” to the company, particularly in recent challenging times as the group came under increasing pressure follow several profit warnings.

In a statement he added: “Following the completion of the Parsons Brinckerhoff disposal and the announcement of our new group CEO, Duncan will be seeking new career challenges in 2015. 

“In the meantime, he will continue on the board as group CFO and will remain as strongly committed to this role as he has always been.”

Last month, Balfour Beatty appointed QinetiQ chief executive Leo Quinn as its group CEO.

QinetiQ is a defence technlogy company, at which Mr Quinn has spent five years as chief executive.

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