Anthony Rabin’s post will not be replaced on the main board, although chief operating officer Andrew McNaughton will take on his responsibility for the Infrastructure Investment Division.

Steve Marshall, Balfour Beatty chairman, said: “Anthony was instrumental in establishing Balfour Beatty Capital some 15 years ago, which has expanded to become the Infrastructure Investments Division, one of the key value generators for our business.

“Over the years, Anthony has brought a tremendous knowledge and experience to the group and he has played a pivotal role in helping shape our direction and growth.

“I would like to take this opportunity to thank Anthony for the significant contribution he has made to our business over these years and to wish him well in all his future plans.”