Fletcher Building to sell Tradelink as CEO, chairman exit
The biggest shareholder in ailing Fletcher Building is backing a shake-up where chief executive Ross Taylor and his chairman, Bruce Hassall, will exit later this year and the underperforming Tradelink business in Australia will be sold.
Fletcher, which trades on both the New Zealand and Australian stock exchanges, suffered a heavy first-half loss and its shares plunged further, down 6.7 per cent on the ASX to $3.45.
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