The chief executive of Kier has left the construction group following a failed deeply discounted rights issue last month.
Haydn Mursell, 48, will be replaced temporarily by Philip Cox, who will become executive chairman until a new chief executive is appointed.
Cox said: “The board believes that, following the completion of the recent rights issue, now is the right time for a new leader to take Kier forward to the next stage of its development.”
Kier, a housebuilder and construction company involved in projects such as Crossrail, launched the £264m rights issue on November 30 to reduce debt and bolster its balance sheet after the banking sector reduced its exposure to the construction sector in the wake of the collapse of Carillion.
