Debbie White's exit from the business after two years will pave the way for an eventual break up of the construction business.
Interserve, which has a strong presence across the West Midlands, said the group will be strengthening its leadership across its three separate divisions – construction, supports services and equipment services subsidiary RMDK.
The company was taken into the hands of creditors in March in a deal which wiped out the value of 16,500 small shareholders.
Alan Lovell, chairman of the company, said: "On behalf of the board and all at Interserve, I would like to thank her for the huge contribution that she has made through such a critical and challenging period for the business."
Interserve has its regional office near Birmingham Airport and employs hundreds at nursing agency Interserve Healthcare in Telford and in cleaning and maintenance at Russells Hall Hospital, Dudley.
It also owns specialist construction firm RMD Kwikform in Aldridge and has offices in West Bromwich.