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Styles & Wood chief executive Ivan McKeever is to step down from the company at the end of the year.

The company announced the move, which follows a period of turbulence at the contractor, in a surprise statement today. He will be replaced as chief executive by former Bovis Lend Lease regional director Tony Lenehan.

In a recent trading update, Styles & Wood said it expected turnover for the year to 31 December to be between 拢95m and 拢100m 鈥� a fall from 拢139.3m last year. However, the firm, which carried out a refinancing last year, expects to return to profit after last year鈥檚 拢1.8m pre-tax loss.

Lenehan headed Bovis鈥� UK north division until earlier this year, when he left the company as part of a restructuring which saw English and Welsh businesses unified under the control of Julian Daniel, who was previously the head of UK south.

Tony Lenehan will start on January 1. He said would review the business before developing a renewed business plan in the next 2-3 months. He said: 鈥淚 look forward to joining Styles & Wood. The Company has a strong brand, a proud heritage, and is well positioned in its markets. I am privileged to lead the business through the next phase of its development as CEO.鈥�

Ivan McKeever said in a statement that he was stepping down from the group to 鈥減ursue personal business interests.鈥� He said: 鈥淚 leave the Group in good shape to prosper from this point and wish my successor and indeed all the team at Styles & Wood well. I鈥檝e thoroughly enjoyed my eight years at S&W and am proud of my role in turning the business around.鈥�