Simplicity are calling for Fletcher Building's board and management to be scrutinised further.

Fletcher's stock has dropped following a multi-million dollar cost blowout on two big projects in Auckland and Wellington.

Managing director Sam Stubbs says they called for the chair's resignation two years ago- and action hasn't been taken.

"In those two years, the directors paid themselves $4 million in fees- and then they had the absolute cheek last year to ask for a 25 percent pay increase, which they were ultimately talked down from."

LISTEN ABOVE

• Analysts concerned as Fletcher Building takes $180 million financial hit