Ralph Waters is retiring as Fletcher Building chairman and will be succeeded by another prominent Ralph, Sir Ralph Norris.
Waters, who first signalled his plan to retire from the company last year, will end his 13-year involvement with the company on October 21.
He joined Fletcher Building in 2001 as chief executive and served in that role until 2006. After that he remained on the board of the company as a non-executive director, and took over as chairman in March 2010.
Norris, a former Air New Zealand chief executive, is an independent non-executive director of Fletcher Building.
He retired as chief executive of the Commonwealth Bank of Australia in November 2011 after a 40-year career in the banking sector in Australia and New Zealand, including as chief executive of ASB Bank.
Norris is also a director of Fonterra Co-operative Group and Origin Energy and a former director of the Business Council of Australia, and a former chairman of the International Monetary Conference, Sovereign Insurance, the NZ Bankers' Association, NZ Business Roundtable and the Australian Bankers' Association.
He is a member of the NZ Olympic Advisory Committee and the Juvenile Diabetes Research Foundation Advisory Board.
Waters welcomed Norris' appointment.
"Sir Ralph had led large organisations in both New Zealand and Australia, and his extensive experience will be of great benefit to Fletcher Building which has substantial operations in both countries," he said.
Norris said he was pleased to accept the role.
"Fletcher Building has a proud history that dates back over a century, and it will be a privilege to chair the company over the next period of its growth and development.
"I'd also like to pay tribute to Ralph Waters and the involvement he has had with Fletcher Building since 2001, firstly as chief executive, and subsequent to that as a non-executive director and then chairman of the company."