16 Jul 2018

Fletcher Building appoints new head to deal with construction

11:12 am on 16 July 2018

Fletcher Building is making further changes to its top management as it appoints a new construction business head.

KiwiRail chief executive Peter Reidy, left, and general manager of network services, Todd Moyle, address media.

KiwiRail chief executive Peter Reidy, left, has been appointed to run Fletcher Building's construction business. Photo: RNZ / Laura Tupou

Fletcher Building appointed the current head of KiwiRail, Peter Reidy, to run its construction business.

The current head of the construction division, Michele Kernahan, will move across to head its building products operations.

The company is restructuring, concentrating on core markets, and selling businesses after racking up losses of nearly $1 billion over the past couple of years in its building division.

Fletcher Building chief executive Ross Taylor said Mr Reidy has been brought in because of his experience in infrastructure businesses.

Separately, KiwiRail said Mr Reidy has steered the corporation through a period of significant change and the hunt for a replacement will start immediately.

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