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Shares in Fletcher Building plummet, company's been a "trainwreck" for some time

Author
Newstalk ZB,
Publish Date
Thu, 15 Feb 2024, 7:40am
Photo / NZ Herald.
Photo / NZ Herald.

Shares in Fletcher Building plummet, company's been a "trainwreck" for some time

Author
Newstalk ZB,
Publish Date
Thu, 15 Feb 2024, 7:40am

There’s a view that the entire Fletcher Building board should go as the company's Chief Executive and Chair call it quits. 

The company's half-year financial result was announced alongside the two resignations, a first-half loss of $120-million. 

Shares have plummeted. 

Simplicity Founder Sam Stubbs told Mike Hosking that he believes the board would struggle to tell shareholders why they should stay. 

He claims the company's been a 'trainwreck' for some time now. 

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