Waters to stay for next year

Fletcher Building chief executive Ralph Waters said yesterday he had no plans to leave the company next year.

That is contrary to the belief of senior business people and company insiders.

Expectations at the time of Waters' appointment in 2001 were that he would not stay indefinitely - and a four-year tenure was anticipated.

After this year's annual result, Waters signalled one of the company's four divisional bosses could be a candidate to replace him. He said he did not plan to stay in New Zealand for ever.

"There is no basis for the view expressed that I will be leaving next year," he said yesterday, responding to a Business Herald story on Monday.

"As to being more specific about the timing of my departure, I will only elaborate when it's appropriate to do so but it's not any time soon. Board and health willing, I expect to be around next year."