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Balfour Beatty chair for ex-boss of Railtrack

By This Is Money
Updated: 05:17 EDT, 26 February 2008

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Steve Marshall, the man who had the misfortune to be in the hot seat when Railtrack hit the buffers, is to become chairman of Britain's biggest rail engineer.

He is taking on the post at Balfour Beatty, succeeding Sir David John who is to retire after the annual shareholder meeting in May.

Marshall was brought in to Railtrack when it was already in trouble and is not regarded by the City as responsible for the mess that followed.

He quit in October 2001, saying the Government's treatment of shareholders had been 'shoddy and unacceptable'.

Since then he has built up a portfolio of directorships, including roles at Southern Water and Delta.

Sir David joined the board in 2000 and has been chairman since 2003. He said Marshall, 51, 'will bring comprehensive Plc experience and a thorough familiarity with the construction sector to the task'.

Balfour builds hospitals, schools, roads and other major projects. It has a stock market value of £2bn.

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