Fletcher Buildings Acting Chair to Step Down After New Appointment

Fletcher Building Limited (NZX: FBU) announced that its acting chair, Barbara Chapman, will step down from the board once a new chair is appointed. The announcement came ahead of the company’s annual general meeting in Auckland, where shareholders are expected to address the company's recent weak performance. Fletcher Building recently raised $700 million to strengthen its balance sheet. In her prepared remarks shared on the New Zealand Exchange, Chapman, who was absent due to Covid-19, outlined the challenges faced by the firm and emphasized the need for leadership changes to guide the company through its current financial strain.

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