Fletcher Building’s long time CFO to step down
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The news: Fletcher Building’s chief financial officer Bevan McKenzie has resigned, following the troubled building products supplier’s chair and CEO out of the door.
The numbers: McKenzie will leave the company on 4 October, after seven years in the role. Fletcher said it will commence a search for a new group CFO.
The context: McKenzie’s departure follows close on the heels of long-time CEO Ross Taylor and chair Bruce Hassall announcing their departures in February, in the aftermath of a hefty NZD120 million ($109.8 million) first-half loss.
While Taylor has already left the company, Hassall will depart after the annual general meeting later in the year.
The NZX and ASX-listed Fletcher has faced shareholder discontent over the half-year loss and its share price performance as it racked up further provisions against troubled construction projects for SkyCity in Auckland and at Wellington Airport. Fletcher shares are down more than 16% so far in 2024.
The source: ASX announcement
