Adamson forfeits interest in $8 mln of shares after being dumped as CEO of Fletcher

Thu, 20 Jul 2017

By Jonathan Underhill July 21 (BusinessDesk) - Mark Adamson has forfeited $8 million in Fletcher Building shares after being dumped as chief executive at New Zealand's largest construction and building materials company and losing his entitlement to its incentive scheme. Adamson had a beneficial interest in 1.06 million shares before losing his entitlement, an NZX disclosure notice shows. He also forfeited an interest in 1 million options to buy shares. In announcing Adamson's exit yesterday, chairman Ralph Norris said he would receive "h...

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