Fletcher Building leadership and Board announcement

by | Feb 20, 2024

On February 14th, Fletcher Building released its financial results for the first half of the 2024 financial year. The results were mixed and led to a subsequent announcement of the business’s subsidiary, Tradelink, being put up for sale as well as the decision not to pay an interim dividend.

“Given the current market conditions, the expected legacy cash outflows and in line with the Company’s dividend policy, the Board has made the prudent decision to not declare and pay an interim dividend in order to maintain our balance sheet settings,” Chief Executive Officer Ross Taylor said.

Alongside these results was the business’s subsequent decision to for leadership changes.

The Group Chief Executive Officer Ross Taylor has given notice to the Board of his retirement and that, as part of a Board renewal review being undertaken, Chairman Bruce Hassall will also step down from the Board at the Company’s Annual Shareholders Meeting (ASM) later this year.

Ross Taylor – Fletcher Building.

Fletcher Building Chairman Mr Bruce Hassall said, “The Board, Ross and I believe it is in the best interests of the business and the team that he handover to a new leader and that I hand over to a new Chair at the time of the ASM in October.”

Mr Taylor said, “Fletcher Building is a great business, and it has been an honour and pleasure to have the opportunity to work with such a committed team of people. I remain committed to the business and facilitating a smooth and orderly transition to my successor who will be able to focus on leading the organisation through the next strategy cycle and beyond.”

An international and domestic search for a new Group Chief Executive Officer will be progressed, leveraging the Company’s succession plan. The search process will be led by Non-Executive Director Barbara Chapman who Chairs the Company’s People and Remuneration Committee.