Fletcher Building has named its new chief executive as Ross Taylor.

Taylor, who will take up the position on November 22, was previouly chief executive of UGL an international engineering and construction business based in Australia.

Taylor takes over from Francisco Irazusta who has been the interim CEO since July when former chief executive Mark Adamson left the company immediately as it announced a second earnings downgrade amid cost blowouts at two major construction projects - widely believed to be the Auckland convention centre and the Justice Precinct in Christchurch.

The company, at the time, also disclosed a $220m impairment against its Iplex Australia and Tradelink business units.

Fletcher Building also announced its forecast guidance for the year to June 2018 of $680 million to $720 million earnings before interest and tax excluding significant items with a likely loss of $160 million in its building and interiors unit.

Including the loss from the unit the earnings would be similar to the $525 million underlying operating earnings it made in 2017 which was down 23 per cent from its 2016 financial year.

The loss on building and interiors unit would be lower than the $292m loss it made in the 2017 year.

Chairman Ralph Norris said it had decided to split out the two figures because of the uncertainty in estimating the final outcomes of the major Buildings and Interiors (B+I) projects, and the resulting impact on in-year earnings,

Fletcher Building will hold its annual general meeting today and is expected to face the heat from shareholders while workers are also expected to take industrial action outside the meeting over concerns about pay.

Fletcher Building will be taking a careful approach to its 2018 guidance after making two hefty cut-backs to its 2017 guidance which upset shareholders and sent the share price tumbling.

Fletcher was initially expected to make $720m-$760m for the June 30, 2017 year, but in a surprise March move shortly after its half-year result out in February, that was downgraded to $610m-$650m, due mainly to two big building projects.

That was further cut in July to $525 million with a $220 million impairment hit.

Its final year end result saw underlying operating earnings of $525 million, down 23 per cent from its 2016 financial year.

Fletcher Building shares closed on $7.96 yesterday and have fallen 18 per cent in the last year.