Shareholder discontent grows as Fletcher succession saga drags on

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
Oliver Lewis
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...

More Markets

NZ sharemarket flat, on track for monthly return of over 5%
Markets Market close

NZ sharemarket flat, on track for monthly return of over 5%

The S&P/NZX 50 Index closed at 12,329.44, up 37.41 points or 0.3%.

'Show of faith': Santana Minerals achieves NZX listing
Markets

'Show of faith': Santana Minerals achieves NZX listing

The gold mining company is the second new listing on the NZX since 2023.

Global shares dip as 'Trump trade' undermines assets
Markets Market wrap

Global shares dip as 'Trump trade' undermines assets

World stocks have fallen slightly.

AAP 7:40am
Retirement sector struggling to keep lid on debt
Markets

Retirement sector struggling to keep lid on debt

Jarden estimates debt at the five large operators has risen fivefold since 2017.