Bolsher stepped down after 18 years at the firm, as the Danish parent company unveiled plans to take direct control of its UK subsidiary to refocus the business.

During the last three years the precast concrete piling specialist has been hard hit by the housing and industrial shed downturn. This has seen piling turnover slump by half.

A statement to staff, obtained by the Enquirer, said: “The company has faced extremely hard trading due to the global economic recession.

“As a consequence, the board has recently decided that it was necessary to make some changes to the way the company is managed.

It added: “Agreement has been reached with Terry Bolsher that he will no longer be part of the board.

“The company would like to thank Terry for his huge commitment and dedication to the company since 1993.”

Danish parent group Per Aarselff has brought the UK business under direct management control, an amalgamation mirrored across the struggling piling sector by the likes of Balfour Beatty, Laing O’Rourke and Galliford Try.

Aarselff said it would now be focusing investment on expanding its pipelining business and offshore windfarm work.

Pipeline Technologies is expanding after winning a five-year contract with Anglia Water.

The firm also aims to build on its success of providing support for the £400m London array wind farm in the Thames Estuary.

Chris Primett stays on as director, running the UK day-to-day business, with the Danish board steering the new growth strategy.