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Fletcher Building bulks up team after Ling handover

BUSINESSDESK: Fletcher Building, New Zealand's biggest listed company, has bulked up its executive team just a week-and-a-half after Jonathan Ling's departure as chief executive.

The company has appointed Paul Zuckerman as chief executive of laminates and panels after Mark Adamson's promotion to the top job left an opening and Gerry Bollman has been made head of business strategy and performance in a newly created role.

Mr Zuckerman was chief executive of Fletcher's Steel division since joining the company in 2007, and will continue to be based in Melbourne.

Mr Bollman has been with Fletcher's US-based Formica team since 2008. His newly created role will encompass strategy, operational excellence, procurement, digital strategy and corporate development.

A further announcement will be made on the leadership of the Steel division in the coming weeks, Fletcher says.

In August, Fletcher's reported a 17% drop in construction earnings to $50 million though its backlog of building work had climbed to $1.09 billion at the end of June from $764 million a year earlier.

Fletcher's shares fell 1.9% to $7.16 yesterday and have gained about 19% this year.