Transition begins as Charles Fisher leaves the board.

Mowlem chairman Charles Fisher has announced that he is to step down from the board after 12 years service. He says he will remain as chairman until a successor is found.

Fisher said that trading in the early part of 2005 was in line with expectations, but reiterated that was a year of transition for the group following a number of senior management changes.

Mowlem has had a difficult few months. It was recently suspended from a track renewal contract for the West Coast Mainline, and earlier this year was dismissed from the troubled Bath Spa project by Bath and North East Somerset council.