Fletcher Building Ltd, New Zealand’s largest construction company, reported a first-half loss. Chief Executive Officer Ross Taylor has announced that he will step down from his position. The announcement was made by Fletcher Building in a stock market filing. Following the two-day trading halt on the New Zealand stock exchange, the market saw a decline of over 13% in Fletcher Building’s share price. There have been repeated calls for changes to the company’s board amid concerns over the upcoming half-year result.
Loss and Leadership Change
Fletcher Building, trading on the Australian and New Zealand stock exchanges, experienced a significant first-half loss. The company’s CEO, Ross Taylor, has decided to step down from his position following the disappointing financial results. This decision was made public through a stock market filing. As a result, the market reacted negatively, with Fletcher Building’s share price falling by more than 13% after the trading halt was lifted. Shareholders and industry analysts have expressed concerns and called for changes in the company’s board.
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Summary:
Fletcher Building, New Zealand’s largest construction company, reported a first-half loss. Chief Executive Officer Ross Taylor has announced that he will step down. Market react negatively, with a decline of over 13% in Fletcher Building’s share price. Calls for changes in the company’s board have been repeated.
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