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International infrastructure group, Balfour Beatty, has announced that Phil Harrison will step down from the Board later this year following more than 10 years as Chief Financial Officer (CFO).
Following an extensive search process and as part of the Board’s long-term succession planning, Myles Westcott, currently Group Financial Controller at BAE Systems plc, has been appointed to succeed him. Subject to finalising his departure date from BAE Systems plc, Westcott will join the Group later this year as Chief Financial Officer.
Westcott, a chartered accountant, brings more than 30 years of finance leadership experience, including almost 25 years at BAE Systems plc, a c.£30 billion multinational defence and security corporation. Prior to that, he held a number of Finance Director roles across major business units, overseeing large scale operations, major international programmes and complex long-term contracts.
Philip Hoare, Balfour Beatty Group Chief Executive said: “I look forward to welcoming Myles to Balfour Beatty. He brings deep financial expertise and a strong track record of operating at scale within complex, international organisations, which will be critical as we continue to drive disciplined profitable growth. I would like to thank Phil for the significant contribution he has made over more than a decade. His leadership has been instrumental in building Balfour Beatty’s financial strength and resilience, creating substantial value for shareholders, and positioning the Group so well for the future.”
Since Harrison joined the Company in 2015, Balfour Beatty has strengthened its balance sheet from average net debt of £371 million in 2014 to £1,102 million average net cash in 2025.
Harrison will remain a Director of the Company and will continue to fulfil his current role until Westcott joins, supporting the business through its 2025 full year results in March 2026. Following Westcotts’ appointment to the Board, Harrison will continue in an advisory capacity for four months to ensure a smooth transition.
