Jarvis chief to step down

The boss of troubled engineering company Jarvis yesterday said he was stepping down from the firm.

Chief executive Kevin Hyde said he believed it was an appropriate moment for him to leave the company after putting in place “the urgent actions” necessary for its recovery.

A watchdog has hit out at the beleaguered engineering group over excessive executive bonuses.

The Association of British Insurers has given a corporate governance warning to Jarvis for payments made to its executives for 2002/3.