Fulton Hogan managing director Nick Miller will leave the privately owned construction company after seven years in charge.

The Dunedin-based company has kicked off a search for a replacement, and Miller will stay on at the helm until March next year, or until a successor has been appointed and a transition period completed. Miller has been with Fulton Hogan for 18 years, including the past seven years in charge during which time he grew the Australian business and established a presence in Fiji.

"Under Nick's leadership, the company has enjoyed outstanding success," chairman Mike Holloway said in a statement. "He has positioned the company for the future and we will now begin the search for his replacement - both internally and externally."

The construction firm lifted 2015 profit 9.7 percent to $151.6 million on an 11 percent drop in revenue to $2.9 billion with the Australian segment accounting for more than half the group's sales.


Fulton Hogan had previously indicated 2016 would be a "steady year" due to residential construction work in Auckland, and Miller today said the company was in a strong financial position and "on track to deliver another solid result".