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What makes an outstanding chief executive? That's the question our panel of judges had to answer for this year's new award, and they agreed on four important foundation stones for success:
  • Delivering excellent financial results
  • Strong leadership skills and a sound reputation
  • Innovation
  • Commitment to stakeholder and community issues.

WINNER Mike Welton
Against strong competitors from the leaders of contractors, housebuilders and materials firms, Mike Welton of Balfour Beatty emerged victorious. His financial performance was dazzling, with a record order book of £5.1bn (an increase of 19% in 2002). But figures weren't everything, he had also worked hard to address environmental issues and to improve the firm's safety standards. He was seen as an inspirational leader with a good business strategy (his work on the PFI/PPP business was seen as especially innovative), and for this combination of talents the judges awarded him the prize of Chief Executive of the Year.

  • Profile of Mike Welton in Building this week

    Lifetime achievement award
    It's been 10 years since Sir Michael Latham's seminal report Constructing the Team, which kick-started an industry review and led to the drafting of the Construction Act. A former Building Awards Personality of the Year, he is only the second recipient of this trophy, which also went to Sir Frank Lampl in 2002. His report's key recommendations were either implemented by government or taken up by Sir John Egan, so that now Latham's agenda has become construction's agenda. Thanks to his ideas of longer-term relationships with the supply chain, cost reductions, equal opportunities and proper training, the industry really is now working as a team. And his work goes further than formulating ideas. As the chairman of CITB-ConstructionSkills he's shown a hands-on approach – in particular putting his weight behind the Construction Skills Certificate Scheme and a more recent training initiative to recruit local people on inner-city regeneration projects. Congratulations to him for making the industry a better one over the past decade.

    Building awards 2004