The chief executive of Balfour Beatty, the listed construction group leading the Midland Metro extension in Birmingham city centre, has stepped down following a profit warning.
The move by Andrew McNaughton follows disclosure of a £30 million shortfall in the group's 海角视频 construction arm.
It also announced today pre-tax profits for 2014 were expected to be "significantly lower" than previously estimated, in the range of £145 million to £160 million.
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Balfour Beatty previously won a £16 million contract to refurbish a series of platforms at New Street and is lead contractor for the from Snow Hill to Stephenson Street.
It is also among circa 60 businesses which make up a steering group for a bid by Birmingham to bring a HS2 college to the .
Mr McNaughton has stepped down as chief executive with immediate effect with Steve Marshall taking over as executive chairman until a successor is appointed.
Shares in the FTSE 250 group lost a fifth of their value following the news, by 56.4p to 229.4p.
Mr Marshall said: "Andrew has served the group for the last 17 years in a wide variety of roles.
"I would like to thank Andrew personally and on behalf of the board for his major contribution. We wish him well for the future."