Morning all. A genuinely busy week for people moves, and a couple of them tell you more about where the market’s heading than any trading update will.

Mace is unravelling at the top. Finance chief David Allen is the latest senior name out the door, ahead of the consultancy arm being split off and the wider rebrand. When you lose your CFO in the middle of a separation, that’s not a coincidence, it’s people deciding which side of the line they want to be on. Watch this one. More names will go before it settles.

Multiplex has a new owner. Japan’s Obayashi has bought the contractor for £490m. Foreign ownership of a UK tier-one always brings a leadership reshuffle in its wake, so expect board-level movement here over the next few months. Worth keeping an eye on who stays and who’s quietly looking.

Balfour Beatty’s restructure is still playing out. The divisional CEO model is now bedding in, Nick Crossfield on Defence, Power & Regional, Phil Clifton on Energy & Major Projects, Steve Tarr holding HS2, Sizewell C and Gammon. The big one: they’re still hunting a Divisional CEO for the new combined UK Transport business (Rail, Highways and Living Places). That’s one of the most significant open seats in the sector right now. If you know someone operating at that level, this is the conversation to be having.

Elsewhere on the wires: Lanes has brought in former Telent boss Jo Gretton as CEO, ending three decades under the previous long-serving chief executive, a serious outsider hire for the drainage giant. Strabag has reshuffled Van Elle’s leadership post-takeover with new joint MDs as Mark Cutler steps back. Bachy has created a technical director role to land an ex-Cementation Skanska leader. And Barratt Redrow has gone outside the sector again, hiring ex-Britvic finance chief Rebecca Napier as CFO from August.

The thread running through all of it: boards are reaching outside construction for finance and transformation talent, and the tier-ones are restructuring faster than they’re recruiting. That gap is where the opportunities sit, for candidates and for us.

If any of these names sit in your network, or you’re weighing a move yourself, you know where I am. Scott

Sources: Construction Enquirer (Mace CFO departure, Multiplex/Obayashi sale, Lanes Group, Strabag/Van Elle, Bachy, Barratt Redrow), Balfour Beatty media centre and Construction Enquirer (Balfour Beatty leadership restructure).