Severfield has begun the search for a new CFO as its incumbent is due to leave the business at the end of October.
The structural steel giant announced today Adam Semple has agreed with the Board he will step down as chief financial officer next month, after almost eight years in the role.
While his successor has yet to be appointed, Severfield confirmed Semple will continue his duties, adding interim arrangements are being finalised, with a further announcement expected shortly.
Semple said: “It has been a privilege to serve as CFO and work alongside such a talented and committed team.
“Over the past 12 years, we’ve achieved a great deal together, but now is the right time for a change to take place.
“Severfield is a fabulous company, with great opportunities ahead, and I wish them and all my colleagues continued success in the future.”
In its most recent trading update, bosses said the business is progressing with costly remediation works on several bridge contracts, while achieving a healthy forward order book amid a generally sluggish domestic market.
Many projects are in the group’s key market sectors, such as industrial, data centre, infrastructure, energy, and commercial, with 19 per cent of the order book representing projects in Europe and Ireland, compared to 22 per cent in July.
This follows a weaker financial performance reported by the company in July, due to “tough” trading conditions here and abroad as well as £23.4 million for remedial works required to fix welding issues on bridges.
As part of ongoing cost-cutting measures, Severfield has prioritised a stronger focus on cashflow, alongside reducing planned capital spending.
Non-executive chairman, Charlie Cornish, said: “On behalf of the Board, I would like to thank Adam for his significant contribution to the group over the past 12 years.
“In particular, during the past six months, he has provided continuity and leadership at a time of transition, including stepping up to help guide the business while we operated without a CEO.
“We thank him for his commitment and professionalism, and we wish him every success in the future.”
Last month, Severfield appointed Paul McNerney its new chief executive officer, succeeding Alan Dunsmore.
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