Outgoing interim CEO Ross Taylor. Photo: RNZ / Cole Eastham-Farrelly
The Shareholders' Association is satisfied Fletcher Building's board is making the right moves with a refresh of the board's composition, but wants to seem more transparency in the process.
The board of Fletcher Building has appointed Nick Traber to take over from Ross Taylor as interim chief executive from the end of the week.
Taylor's retirement from the company was announced last month along with chair Bruce Hassell, following a disappointing first-half result.
Taylor's permanent replacement was to be appointed following the company's annual meeting in October, when a new chair will also be elected.
In the meantime, Traber - who has been the chief executive of the company's concrete division for three years - will step into the role, with Thornton Williams to act as the head of the concrete division in the interim.
Taylor said he would be available to support Traber in the running of the company until 23 August.
Bruce Hassall. Photo: Fletcher Building
"Traber has participated in a robust internal succession process and has an impressive track record of strong performance and effective leadership," Taylor said in a statement to the market.
The board was also being renewed, with Barbara Chapman acting as chair.
Others to step down from the board included directors Doug McKay, from 30 June, while Rob McDonald would not stand for re-election.
Shareholders Association' chief executive Oliver Mander said the appointment of Johnson Partners to assist the board with its review was positive, but would also like to see more shareholder involvement in the process.
"We're cautiously optimistic that the board is now beginning the journey of board renewal. But we would like some clear, independent oversight provided by shareholders.
"Also very curious about the feedback that [the board] did receive from stakeholder and shareholder surveys over the last month, and we'd like to see a little more transparency around that as well."
The company's chief executive and chair were not available to be interviewed about the interim changes.
