David Ryan, the controversial chairman of Transurban (ASX:TCL), a leading international toll road developer in Australia, has stepped down. His resignation spared him a confrontation with furious shareholders at the annual meeting in October.

The Australian Shareholders Association this week told Transurban it was cooking a motion to oust Mr Ryan, who was also chairman of collapsed childcare group ABC Learning.

''We spoke to the company a couple of days ago indicating our intention because we needed to know the cut-off date,'' ASA chief executive Stuart Wilson said.

The action is believed to have been backed by Transurban's largest shareholder, Sydney-based fund manager CP2, at the annual general meeting.

Mr Ryan's shares are also believed to have slumped at Transurban's second-biggest shareholder, CPPIB, following a change of staff at the Canadian pension fund.

His departure, in favour of merchant banker Lindsay Maxsted, was declared yesterday, along with Transurban's full-year profit of $59.6 million.

The figures, steered by a swell in traffic on the company's toll roads, showed a shift from last year's loss of $16.1 million.

Chief executive Chris Lynch has dismissed the takeover saga or the ABC Learning collapse were the reasons for Mr Ryan's resignation.

''David's decision is entirely David's decision,'' he said. ''He made that call himself and he let his fellow directors know this week.''

He said he did not expect Mr Ryan's departure, and credited him for substantial growth during his time as chairman.