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Lester quits as Balfour Beatty md

BALFOUR Beatty managing director Paul Lester has quit his post to become chief executive of defence and civils contractor Vosper Thorneycroft.

Mr Lester - who earned more than £345,000 last year with benefits and bonuses - will take up his new role on July 1 after five years with Balfour Beatty.

He has previous experience with a number of defence firms and has been a non-executive director of Vosper Thorneycroft since 1998.

Balfour Beatty's building, building management and services division will report to group finance director Ian Tyler on an interim basis.

A company spokesman said: 'We have some names in mind to replace him but the process is ongoing and we will announce his successor in due course.'