Laing boss steps down

The founder and chief executive of Laing o’rourke is stepping down after 45 years as it gears up for a stock market float.

Irish-born ray o’rourke, who set up the engineering and construction company with his brother Des in 1978 with an initial project worth £2,500, will join Des as a deputy chairman.

the 74-year-old will be replaced as chief executive next year by Seamus French, boss of miner anglo american’s bulk commodities and other minerals division.

It comes as Laing o’rourke, which has been involved in major UK infrastructure projects including Hinkley point C, Heathrow terminal 5 and Crossrail, prepares for an initial public offering by 2024.