Fletcher Building CEO Ross Taylor to exit this week
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The news: Fletcher Building's CEO Ross Taylor will leave the company this week, cutting short his six-month notice period.
The numbers: Last month, Fletcher announced that both Taylor and chair Bruce Hassall would leave their roles after reporting a half-year loss of NZD120 million ($112.7 million) compared to a NZD92 million profit in the prior corresponding period.
Taylor, who has led the group since 2017, was expected to retire after serving a six-month notice period, but will now step down on 29 March.
Hassall, who had originally told shareholders that he would hand over to a new chair at the company's annual shareholders meeting in October 2024, left Fletcher with immediate effect earlier this month.
The context: Taylor will be replaced by acting CEO Nick Traber for an interim period until a permanent CEO is appointed. Traber has served as chief executive of Fletcher's concrete division since January 2021, having previously held leadership roles within fellow building materials company Holcim in Europe and South America.
Fletcher said its board is progressing with a search process for its permanent CEO, which includes Traber as an internal candidate.
As part of a board renewal process that will include the appointment of a new chair, Fletcher also announced that board members Doug McKay and Rob McDonald will step down later this year.
What they said: Taylor said: "Mr Traber has participated in a robust internal succession process and has an impressive track record of strong performance and effective leadership".
The source: ASX announcement
