KEY POINTS:
Jonathan Ling
CEO Fletcher Building
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Jonathan Ling became chief executive of Fletcher Building in September and runs the country's second-largest company behind Telecom. He's had a year of great highs - but one extreme low.
How would you describe 2006 for Fletcher Building?
It's actually been a very good year, with record profits. The company was named Deloitte/Management magazine company of the year, we've had a record share price and a number of acquisitions which are now well and truly integrated into the business and resilience in our financial performance that's very pleasing. We've performed well compared to our competitors, CSR and Boral.
What's your greatest achievement?
Getting Ralph's [Waters] job. It's been getting the job and surviving the first three months. And we're travelling quite nicely. The acceptance by the share market, employees and our stakeholders has been very good and personally I couldn't have wished it to go any better. Moving to Auckland has been very smooth. It's a great place to live because the people are very friendly - I can't say much about the weather though and I haven't had time for any windsurfing yet but it's a nice city, good size and good facilities with restaurants and on the water.
And greatest disappointment?
The Taupo MDF [medium-density fibre board] fire. Our hearts really go out to the employees in Taupo, a lot of the suppliers who were reliant on the business and the plant will be down for at least another 18 months. We can't start rebuilding because we're still trying to resolve the insurance claim which is a lengthy process and until that's resolved, we don't have any clarity about moving forward.
What do you think 2007 will bring?
It will be a little tougher in the markets and economy, particularly in New Zealand and southeast Australia so we are going to have to be on our toes to maintain our performance. We have made a commitment not to go backwards and I'm confident we will measure up to expectations.
The market is keen we keep growing and there are a number of projects in the pipeline and we're very focused. We're not planning to spend $1.5 billion [which Fletcher has a capacity to spend, having accrued large cash sums and with extensive borrowing capabilities]. But you never know. It depends on the opportunity.
What are the challenges of 2007?
To maintain our performance in tough times and improve safety in the group.
Where are you going for the holidays?
Because we've just moved to Auckland, I'm actually going back to Melbourne for the Christmas break and spending time with our family and friends because most of them are there. Our kids are still there and telling us Melbourne is just covered in smoke and dust so it's devastating with the combination of fire, drought and hot weather.
What will you be reading?
I'll have a break from reading because the amount of reading in this job is enormous and I won't read for a week, other than good newspapers.
* TOMORROW: Mainfreight's Don Braid
