Laing O’Rourke’s chief monetary officer (CFO) is decided to whisk away the company to affix a FTSE 100 plastic products producer.
Rowan Baker, who joined Laing O’Rourke as its finance lead in 2020, will join Essentra Plc as CFO on 5 November.
Her departure from the UK’s finest privately-owned constructing company comes after Cathal O’Rourke modified into chief govt in July, taking over from his father, Ray O’Rourke, who based mostly the company in 1977.
Baker will likely get replaced by Paul Teasdale, who’s presently Laing O’Rourke’s deputy CFO and finance director for its Australia substitute. Teasdale joined the company in 2018 from Lendlease, after virtually three years at the Sydney-primarily based mostly contractor.
On Teasdale’s appointment, Cathal O’Rourke stated: “We have appointed a capable and experienced finance leader who modified into once instrumental to the development of our substitute in Australia. I’m looking ahead to working carefully with him but again in his unique role.”
Laing O’Rourke also posted its most most in vogue monetary outcomes this week, tabling a £40m pre-tax profit a year after it plunged to a £288.1m pre-tax loss.
On top of her work at Laing O’Rourke, Baker is a non-govt director at housebuilder Vistry Community and chairs its audit committee. Previously, she labored as CFO of McCarthy Stone Community, a developer specialising in retirement properties, and had stints at Barclays Bank and PwC.
Baker stated: “I observe forward to working with Scott [Fawcett, Essentra chief executive] and the board in improving development initiatives, supporting operational effectiveness and making persevered growth on strategic targets.”
In 2021, Baker told Construction News that Laing O’Rourke modified into once making ready to drift the firm on the stock substitute. That modified into once then delayed as Ray O’Rourke, the company’s founder, hunted for a successor. Now his son has taken over, but there has been no be conscious on plans to drift the firm since.
