Arun Sudhaman 27 Jan 2015 // 8:49AM GMT
LONDON—UK infrastructure group Balfour Beatty has shifted financial PR duties to Tulchan Communications as it attempts to turn around its troubled UK construction business.
The company, responsible for transforming the Olympic Stadium for this year’s Rugby World Cup, had previously worked with Maitland since mid-2012.
The Tulchan hire follows the arrival of new Balfour Beatty CEO Leo Quinn, a turnaround specialist who previously led QinetiQ.
Rebecca Salt, the group communications director who hired Maitland, left Balfour Beatty one year ago. The company's corporate communications are currently led by Dominic Cheetham and Patrick Kerr.
Last week, Balfour Beatty issued its sixth profit warning in a little over two years, after a KPMG review of its UK construction business revealed a further £70m shortfall.
Accordingly, Balfour Beatty has cancelled plans for a £200m share buyback, after parting ways with former CEO Andrew McNaughton last year and shelving plans to merge with Carillion.
"Balfour Beatty is a large organisation which had become too complex and too devolved for adequate line of site and financial control," said Quinn upon publication of the KPMG review. "The key is that these issues can be put right and we now have a clear action plan in hand."
A Tulchan representative confirmed the shift but Maitland declined to comment. Representatives from Balfour Beatty did not respond to request for comment as this story went live.