5 Apr 2024

Fletcher Building sees another exec resign

9:52 am on 5 April 2024
Fletcher Building announces a $486 million increase in the projected losses for Fletchers' troubled Building and Interiors (B&I) division on 16 major construction projects.

Fletcher Building's Bevan McKenzie has resigned. Photo: RNZ / Dan Cook

Troubled Fletcher Building is losing another top executive.

Chief financial officer Bevan McKenzie has resigned and would leave in early October.

His resignation follows the early departures of chair Bruce Hassall and chief executive Ross Taylor, as well as two directors standing down.

The top tier of the company's management and the board have been under pressure from shareholders since it posted a large half year loss in February.

Acting chief executive Nick Traber said McKenzie had played a key role over the past seven years.

"He has played an important role in focusing the Group on its core businesses, enhancing their performance, and putting in place quality growth strategies.

"We thank him for his contribution and wish him well for the future."

A permanent chief executive replacement was to be appointed following the company's annual meeting in October, when a new chair will also be elected.

The Shareholders' Association has said it was satisfied the company's board was making the right moves to refresh, but it wanted to see more transparency.

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