Shareholders Assn challenges Fletcher board to seek re-election

Wed, 26 Jul 2017

By Pattrick Smellie July 26 (BusinessDesk) - The board of directors of Fletcher Building has "no choice but to seek a new mandate" at the company's October annual meeting following last week's firing of chief executive Mark Adamson after the second major profit downgrade this year, the New Zealand Shareholders Association says. "Right until last week, the Fletcher board was uncommunicative to the broader shareholder base and kept faith with Mr Adamson’s abilities," said the association's chief executive Michael Midgley. "The recent disclo...

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