Plenary names new North American president

The infrastructure developer’s North American president has resigned to join the company’s board, and is replaced by a member of its executive management team, Brian Budden.

Plenary Group, a Sydney-based infrastructure developer, has named Brian Budden its new North American president and chief executive after 11-year incumbent Paul Dunstan resigned.

Budden has spent the last 10 years on Plenary's executive management team, taking over leadership of origination and commercial operations in North America in 2014. He has experience in public-private partnerships and alternative finance procurement for North American infrastructure projects.

“The board feels Brian is the ideal person to provide leadership to the business and to the executive management team,” John O'Rourke, Plenary chairman, said in a statement. “Not only is he intimately familiar with our existing projects, partners and pipeline, but he has the respect and support of our full employee base across North America.”

Budden previously practiced corporate restructuring at a Toronto law firm and led acquisitions, divestitures and strategic initiatives as vice president of corporate development at a subsidiary of Magna International.

Dunstan, who helped launch Plenary's North American division, has built a $16 billion portfolio in his 11-year tenure. He is transitioning from his executive role to serve on the company's board.

Some of Dunstan's last moves as North American president include winning a bid in August to design, build, finance and maintain the new Mackenzie Vaughan Hospital north of Toronto. In the same month, Plenary also secured an investment from La Caisse de dépôt et placement du Québec . The pension fund manager bought a 20 percent stake in Plenary to work on a pipeline of “anticipated” projects.