The Bolton-based company has confirmed McCarren will by leaving “by mutual agreement” after eight years in charge.

Forrest has also concluded a refinancing package to support the business in delivering a £600m order book.

Forrest announced 30 job losses last month as part of a restructuring as it shifts from its traditional market refurbishing social housing towards more new build construction.

Bob Holt, Chairman at Forrest said: “The new funding deal provides a strong financial platform that will enable Forrest to deliver growth over the next few years, whilst maintaining the Company ethos of providing personalised, customer focussed services.

“The Board thanks our clients and supply chain for their continued support during the refinancing process”.

Holt added: “Since Lee joined the business in 2009 he has led the transformation of the business into a multi-disciplinary contractor.

“The Board thank him for his considerable contribution and effort over the years and wish him every success for the future”.

McCarren said: “I have had a great time leading the Forrest business and working with its great book of customers but believe that now is the perfect time, in view of the new investment, for me to depart and go onto a new challenge.

“I wish the business great success going forward.”