Shareholder discontent grows as Fletcher succession saga drags on

Former Fletcher Building chair Bruce Hassall was forced to bring forward his exit. Shareholder activists are concerned naming his replacement is dragging on. (Image: Fletcher Building)

Rebecca Stevenson

Fri, 14 Jun 2024

Oliver Lewis

Fri, 14 Jun 2024

The Fletcher Building board allegedly interviewed and identified a preferred chief executive in recent months, raising concerns from disillusioned shareholders an incoming chair won’t be the “new broom” they think is needed to reset the company. The dual-listed construction giant has had a torrid year, posting a $120 million first-half loss and losing its chair, Bruce Hassall, and chief executive Ross Taylor, both of whom brought forward their resignations amid ongoing shareholder pressure.In March, Fletcher told the mark...

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