MJ Gleeson is to pull out of building after the division made a £16.6 million loss in the first half. The company has also appointed a new chief executive. Andrew Muncey, group md, has stepped down and Terry Massingham, formerly managing director of the homes division, will become chief executive. Executive chairman Dermot Gleeson said: “The sale of Gleeson building will further reduce, very substantially, the group’s exposure to construction risk.” A large proportion of the division’s work was in public health and education. In the six months up to December Gleeson’s turnover slipped to £266 million with pre tax losses of £6.7 million. Gleeson Homes continues to perform well. (FT)