The founder of privately-owned construction firm Laing O’Rourke is stepping down before a mooted stock market listing.
Ray O’Rourke, who founded the company with his brother Des in 1978, will stand aside as chief executive in September next year.
He will be replaced by Seamus French, the head of mining giant Anglo American’s bulk commodities division, who joined Laing last year as an independent director.
The company started life as a concrete specialist but it shifted direction 20 years ago after acquiring John Laing’s contracting business for £1.
Analysts said Laing could be worth about £700m if it opts to join the public market.
