Fox will hand over the reins at the end of May after 10 years as chief executive.
Frans den Houter, Interim CEO of Dutch parent company Royal BAM Group said: “Steve postponed his planned departure because of the impact of the outbreak of Coronavirus.
“It’s characteristic of Steve to put his colleagues at BAM Nuttall, customers and the company first, and we thank him for his commitment and his contribution to BAM.”
Fox, who was awarded a CBE in 2015 for services to construction, said he would be pursuing opportunities where his experience and expertise could support the continued modernisation of the construction industry.
Savory joined BAM Nuttall in 1995 and has been a member of its management board, as managing director Infrastructure, since 2017.
From June, the management of BAM Nuttall will consist of Adrian Savory (Chief Executive), Martin Bellamy (Managing Director, Regions), Alan Cox (Preconstruction Director), Ruth Dunphy (Finance Director) and David McGowan (Delivery Services Director).