It emerged last week that Nick Pollard chief executive of Bovis Lend Lease is stepping down by mutual agreement.
Atkinson was operations director for five years and a senior member of the UK southern division of Bovis Lend Lease.
It is understood Atkinson is currently fielding a number of job offers from the industry.
The restructuring at Bovis is being carried out by Dan Labbad, who was put in charge of Lend Lease’s European division in April.
One contractor told the Enquirer: “It’s a real surprise he has left. Tim is one of the best builders in the business.
“He has run some of their biggest jobs on site and is known as the man that actually gets things built.
“Things are changing at Bovis Lend Lease as the Australian parent company has much more of a say in the way things are going.”
He added: “I’m not telling them how to run their business, but letting people as good as Tim Atkinson go doesn’t strike me as the smartest move”