Company founder Ray O’Rourke will take his place as Chairman from April after Sir John steps down at the end of the group’s financial year.

Ray O’Rourke stepped down as chief executive last year to become deputy chair and hand the CEO reins over to his son Cathal.

Ray O’Rourke said: “On behalf of Laing O’Rourke, I extend our heartfelt gratitude to Sir John for his contribution to our business. We are deeply grateful for his steadfast stewardship and tireless commitment which has been instrumental in bringing our vision and purpose to life.

“Testament to that commitment, Sir John has agreed to retain an ambassadorial role, which will ensure the company continues to benefit from his experience and wise counsel.

“I am delighted to confirm that I have agreed to take on the role of Chair of the Group with effect from 1 April 2025. I am looking forward to working with my son, our Group CEO, Cathal O’Rourke and our Board members as we continue to implement our strategy to push the boundaries of modern construction – which is the only way to change the nature of the work we do.

“I have spent my entire career in this industry, spanning some 50 years and I believe it is the best industry there is, but I also know, now is the time to make the step change needed to improve the way we deliver major infrastructure – for our people, our clients and our delivery partners.”

Cathal O’Rourke, Group CEO added: “I echo my father’s words of thanks to Sir John Parker. I am grateful for the guidance and strategic insights he has provided me over the years. Sir John has had an impressive career, and he is leaving an important legacy here at Laing O’Rourke.

“I am looking forward to working more closely with our founder, my father Ray O’Rourke as he steps into this role as our Chair. We have an exciting road ahead, and I know the business will benefit greatly from his vast experience as we set our strategic vision for the future.”

Sir John said:  “I am proud of my time as Group Chair of the Laing O’Rourke Corporation. I have always been struck by the high calibre of people who serve on the Laing O’Rourke Board, on its executive committees and those people who deliver its projects across the UK, Middle East and Australia.

“They are driven by a sincere sense of purpose, confident in the knowledge the work they do every day, serves humanity and improves lives. I have every confidence that Laing O’Rourke will continue to build on its recent successes and achieve its goal to transform the business and the wider sector for future generations.

“I want to thank Ray and Cathal for their unwavering support, and all other members of the Board who have been quality professional colleagues of high-competence and integrity.”