Staff were told the news of regional director John Rawlinson’s departure earlier this week.
Rawlinson joined Stepnell from Bouygues UK two years ago to boost business across the area.
Local sources said he had focused on major building projects while slimming down the regional civil engineering business where most civils staff have left.
One local construction insider said: “They effectively closed the civils business to concentrate on chasing bigger building projects which haven’t really materialised.”
Tom Wakeford, joint managing director of Stepnell, said: “The Board of Directors would like to thank John Rawlinson for his work over the last two years. John will work with the business over the next few months to close out final accounts.
“The regional business has continued to focus on building works rather than civil engineering works over recent years with the exception of our National Grid framework and specialist projects like Catesby Tunnel where we continue to provide an excellent service.”
The Enquirer understands Rawlinson’s role will be taken on by Rugby regional director Adrian Barnes.