Interserve has announced that its chief executive Adrian Ringrose is to step down from the company in the new year.
Ringrose, who has been at the helm of Interserve for 17 years will leave in 2017, once a successor has been appointed.
Interserve said: “The board is undertaking a process to select a new CEO and, in the meantime, Adrian will continue in his current role and in due course facilitate a smooth transition.”
Glyn Barker, group chairman, said: “I would like to thank Adrian for his significant contribution to Interserve over the last 15 years.
“His dedication to the organisation has been and remains absolute and I wish him success and equal fulfilment in the next stage of his career.
“During his tenure as CEO, he has transformed the composition, scale and culture of the business. He will be leaving a legacy of strong, profitable businesses with an excellent market reputation.”
Ringrose said: “It has been a huge privilege to serve on the board of Interserve for the last 15 years, in particular to have led the business as chief executive for the vast majority of that time during which the company has expanded and developed significantly.
“I am proud of what we are achieving and continue to be humbled by the skill and care of my colleagues in providing vital services to our customers and remain committed to leading the company through this transition period.”
A further announcement will be released once Ringrose’s successor has been appointed.
The news comes as Interserve revealed that Waste specialist Viridor has terminated its contract on a delayed Glasgow gasification plant project during the early commissioning phase.
The Construction of the £154m Glasgow Recycling and Renewable Energy Centre project has been beset with technical problems causing serious delays.
Construction began in 2013 with the site originally due to start operations earlier this year.
But in May, Interserve revealed the project was seriously delayed and it was setting aside a £70m provision at its construction division due to technical problems on the job.
Many of Interserve’s problems stemmed from three supply chain company insolvencies during construction, the largest of which was gasification technology supplier Energos.
