Balfour Beatty’s Chief Executive Ian Tyler is stepping down after 16 years with the company.

Tyler will be replaced by colleague Andrew McNaughton, currently deputy Chief Executive and Chief Operating officer, on March 31.

Balfour said Tyler will remain with the company until April 30 to "ensure a smooth transition".

Chairman Steve Marshall said: "The board is delighted that someone of Andrew’s calibre has developed from within the business and is now ready to take over the role of chief executive from Ian.

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"Andrew has a deep understanding of our customers and operations, and the relentless drive necessary to successfully deliver the strategy that he has been intimately involved in developing.

"On behalf of the Board, I want to say a huge thank you to Ian Tyler for his outstanding contribution to Balfour Beatty during his sixteen-year career with the group, including, the last eight years as chief executive"

Tyler said he is looking forward to "new opportunities outside of Balfour Beatty".

He said: "It has been a great honour to have been Balfour Beatty’s chief executive, and to have led such a talented group of people. Together, we have created one of the world’s leading infrastructure businesses. After eight years, I believe, the time is right to hand over to Andrew to lead the business in the next stage of its development."

(IT/GK)