ISG’s construction managing director has resigned from the company “to pursue other career opportunities”.
Craig Tatton has left the division and been replaced by former Balfour Beatty rail director and general manager Alan McCarthy-Wyper.
ISG’s construction arm reported a 0.2 per cent margin last year, and group chief executive David Lawther told Construction News in March that it expected a similar level in 2013.
Mr Lawther described it as the “most difficult” of the company’s divisions.
The firm, which played a role on every 2012 Olympics venue, cut construction jobs and closed offices in East and South-east England last year, but said it was taking people on in other areas of the construction business.
A spokesperson said this week: “Craig Tatton has decided to leave the company in order to pursue other career opportunities.
“Alan McCarthy-Wyper has joined the company as managing director for the UK Construction business.”
Mr Lawther also told Construction News in March that group restructuring costs will be “north of £1m” in 2012/13 as ISG “continues to manage its cost base in line with the market”.
The chief executive declined to give details on the number of job losses or office closures in construction.
Construction operating profit for the half-year was £0.7m on revenue of £280m, as the order book increased to £409m (2011: £377m).
ISG posted results for the six months to 31 December 2012 in March and said revenue was up 6 per cent to £659m as profits fell slightly from £2.3m to £2.2m. It posted a group operating margin of 1 per cent. Group cash fell just £4m to £25.3m.
City analysts have said they expect ISG to be one of the first firms to recover from the construction recession due to its high UK private sector exposure and overseas interests.