Bruce Hassall has been appointed the new chairman of Fletcher Building.
He is to replace Sir Ralph Norris and will be joined by four new board directors.
Norris says he is “confident” Hassall will bring “strong leadership” despite coming with no construction experience.
He starts the role on September 1. His experience includes the role of former chief executive of PwC.
The new board directors include Barbara Chapman, Robert McDonald, Douglas McKay and Cathy Quinn,
Norris says he is “pleased with the progress” made around the leadership transition since announcing his resignation in February.
“Our CEO Ross Taylor is now firmly established in the role and has led the development of a focussed strategy that aims to deliver long-term growth for shareholders.
“Our balance sheet has been strengthened following a successful capital raising, and the company is on track to deliver FY18 guidance.
“Bruce Hassall will bring strong and steady leadership as Fletcher Building’s new chairman, and will complete the board refresh with the appointment of an Australian director in the coming months.
“Our four new independent directors are high calibre individuals, who bring a mix of commercial, operational and governance expertise, which will greatly enhance the experience and diversity of the board.
“While our original intention was to seek a director with construction experience, with our appointment of Ross Taylor who has considerable expertise in this area, our decision to exit the vertical construction sector, and a new strategy in place, we believe the appointments we have made will best support the Company’s new strategic direction,” Norris says.
