Sir Ralph Norris to take up Fletcher chair in October

Sir Ralph Norris
Fletcher Building 12-month price history (NZX.com)

Sir Ralph Norris, the former head of Commonwealth Bank of Australia, will take the chair of Fletcher Building [NZX: FBU] in October, replacing the retiring Ralph Waters.

Fletcher today announced Norris would take over as chairman on Oct. 21, having joined the construction company's board in April as part of the succession to replace Waters, who signalled his retirement last year. Norris is current a director of Fonterra Cooperative Group and Origin Energy, and has previously been chief executive of CBA and Air New Zealand.

"Sir Ralph had led large organisations in both New Zealand and Australia, and his extensive experience will be of great benefit to Fletcher Building which has substantial operations in both countries", Waters said.

Waters led Fletcher as chief executive from 2001 to 2006, staying on as a director after that and taking over as chairman in 2010.

New Zealand's biggest listed company is scheduled to report annual earnings tomorrow, with Forsyth Barr analysts expecting 9 percent growth in net profit to $355.3 million.

Shares of Fletcher rose 1 percent to $9.14 today, and have gained 6.4 percent this year.

(BusinessDesk)

This article is tagged with the following keywords. Find out more about My Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7850 0.0000 0.00%
AUD 0.8924 0.0000 0.00%
EUR 0.6196 0.0000 0.00%
GBP 0.4880 0.0000 0.00%
HKD 6.0917 0.0000 0.00%
JPY 84.8970 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1231.3 2.700 2014-10-24T00:
Oil Brent 86.1 -0.700 2014-10-24T00:
Oil Nymex 81.0 -1.020 2014-10-24T00:
Silver Index 17.1 0.020 2014-10-24T00:

Indices

Symbol Open High Last %
NZX 50 5292.8 5344.4 5292.8 0.77%
NASDAQ 4459.5 4486.3 4452.8 0.69%
DAX 9008.6 9044.9 9047.3 -0.66%
DJI 16677.0 16811.7 16677.9 0.76%
FTSE 6419.1 6419.1 6419.1 -0.47%
HKSE 23311.9 23352.6 23333.2 -0.13%
NI225 15354.4 15377.0 15139.0 1.01%