He will stay in post until the summer to give the board the chance to find a successor.
Mr Good has been chief executive since 2009 and is credited with transforming the business in fast-growing markets outside Europe. According to the Low & Bonar website, he is 52 years old.
Chairman Martin Flower said: "Low & Bonar has benefited greatly from Steve's leadership over the last five years and we shall miss him. The group is much stronger, more focused and more resilient as a result of his direction and guidance and the board is confident of achieving continued profitable growth in future.”
Low & Bonar has also reported revenues in 2103 of £403.1m, up 5.9% from 2012’s £380.5m. There was a near threefold growth in pre-tax profit from £6.1m in 2012 to £17.8m in 2013.
Growth was aided by the acquisition in early September of Texiplast, a manufacturer of soil reinforcement, separation, filtration and erosion control products for a net cash payment of £15.9m.
The board said that Texiplast was performing well and its acquisition enabled Bonar to become a more integrated provider of solutions for civil engineering projects. It also improves access to Texiplast's principal Central and Eastern European markets.
“We continue to seek other investment opportunities, including those outside of Europe,” the board said.
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