Philip Hoare takes over as Balfour Beatty Group Chief Executive today as Leo Quinn steps down from his role after more than 10 years.

Balfour announced the move earlier this year with today the day that a new era begins at the contractor.

Hoare was previously Chief Operating Officer at consultant AtkinsRéalis.

In his new role Hoare will receive a salary of £840,000 and an annual bonus opportunity with a maximum of 150% salary and a maximum long-term incentive grant of 200% of salary.

Quinn said: “Thank you to everyone who has been part of our remarkable shared journey since 2015 – and most importantly to my 27,000 Balfour Beatty colleagues, for shaping a company that’s built to last another 100 years and beyond.”