Fletcher Building chief executive Ross Taylor could be set to fall on his sword and announce his resignation in tandem with the group’s half-year results announcement tomorrow, BusinessDesk reports.
In its request to the Australian Securities Exchange (ASX) for a trading halt on Monday, the dual-listed company notes it may have further “potential provisions and impairments” to include in its earnings forecast for the full year.
The ASX statement, issued alongside a request to the NZ stock exchange (NZX), notes that it is possible – given the matters to be considered at the board meeting – that the CEO will “consider his position” with Fletcher with this to be announced when his decision is made.
Several analysts told BusinessDesk they feared that downgrade may be a sign of more to come at the country’s biggest building materials group and residential builder.
