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CEO seen as ‘fall guy’ as focus turns on Fletcher board

Company’s surprise announcement of material impairments and possible exit of CEO Ross Taylor has analysts questioning competence of directors.

Fletcher chair Bruce Hassall addressing the annual meeting in October, with Ross Taylor to his left.

Tim Hunter Tue, 13 Feb 2024
Key points
  • What’s at stake: Fletcher Building CEO Ross Taylor may resign after the company warned of further provisions and impairments affecting its forthcoming results.
  • Background: Fletcher has made repeated provisions and impairments over the years, particularly since 2017 for costs associated with major construction projects.
  • Main players: CEO Ross Taylor, chair Bruce Hassall, CFO Bevan McKenzie.

Fletcher Building’s shock disclosure of further impairment charges and the possible resignation of chief executive Ross Taylor has left analysts questioning the board’s accountability for continuing bad news at the building and materials giant.

After last week announcing a $180 million provision

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Contact the Writer: thunter@nbr.co.nz
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Key points
  • What’s at stake: Fletcher Building CEO Ross Taylor may resign after the company warned of further provisions and impairments affecting its forthcoming results.
  • Background: Fletcher has made repeated provisions and impairments over the years, particularly since 2017 for costs associated with major construction projects.
  • Main players: CEO Ross Taylor, chair Bruce Hassall, CFO Bevan McKenzie.
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CEO seen as ‘fall guy’ as focus turns on Fletcher board
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