Harrison will take up his new position and join the board later in the year. Harrison, 53, joins chief executive Leo Quinn in a mission to turn around the group after a series of board departures, profit warnings and a dip in the share price.
A qualified accountant (FCMA), Harrison’s career includes senior roles in large and complex international businesses. Prior to his current role as group finance director at Hogg Robinson Group plc, Philip was the group finance director at VT Group plc, the £1.3 billion turnover government support services business, and at Hewlett-Packard where he was the VP Finance for the $43 billion turnover Europe, Middle East and Africa region and a member of the EMEA board.
Says Leo Quinn, ‘We are delighted to have found and attracted a candidate of Philip’s experience and calibre, and he will be joining a leadership team committed to restoring Balfour Beatty to strength.
‘His 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.’
The previously announced search for a new chairman is progressing well, says Balfour Betty, and an announcement will be made in due course.