David Fison, UK chief executive of construction company, Skanska, has been replaced following the firm’s £41.5 million loss.
Its group chief executive, Johan Karlstrom, was unhappy with the company’s results in recent projects.
He said: "The results in these projects are clearly unsatisfactory. We will therefore change our processes and procedures within Skanska UK," industry publication, Building has reported.
Mr Fison will be replaced by Mats Williamson, who will move from his current role as president of Skanska Sweden.
"I’m convinced Mats Williamson, with his deep experience, his proven track record and strong leadership, is the right person to lead the development of Skanska UK."
Despite difficult times for construction and building companies, Balfour Beatty has proved there are still contracts to be won it secured a £200 million housing deal with the US military.