His sudden departure comes as further boardroom changes are announced and the offsite business Innovaré is sold to Bowmer & Kirkland.

Recently acting former interim CEO Dave Smith has now been appointed on a permanent basis. Also Peter Duff has been appointed joint COO and CFO.

Hoyland joined Osborne from Orbit housing association where he was CEO. He succeeded Andy Steele, who stepped down last November after more than six years in the role.

Osborne said that Hoyland would now act as an adviser to the business.

Hoyland said: “Following a strategic review at the Osborne Group’s business by the board and the decision to sell Innovaré, I am looking forward to providing strategic support to the board and wish Dave every success.”

Smith said: “I am delighted to take on this role, which is focussed on empowering the managing directors of each part of the Osborne family. They are the key business leaders who will drive the company forward.”

Coventry-based Innovaré specialises in offsite manufacturing of structural insulated panels (SIPs)  for schools and housing.

Staff will be transferred to B&K under the TUPE regulations, maintaining their pay, terms and conditions under the new structure. 

Osborne Group chairman Andrew Osborne said: “Today’s strategic changes will ensure our core business can be successful in the years ahead.

“Like everyone in the construction sector, we have seen challenges in recent months but we are well placed to continue and build upon our proud track record of delivery for customers.

“Everyone at Osborne is proud of Innovaré’s growth to date and I know the company will continue to thrive under its new ownership. 

“Construction is the heart of Osborne Group, the order book for 2023 is strong, and I look forward to making further announcements about new schemes and delivery of our existing projects.”