The last member of the Fletcher family to be associated with the group of companies bearing its name is stepping down.
Hugh Fletcher will retire as a non-executive director of Fletcher Building and Fletcher Building Industries at the end of the month.
The move was part of its succession arrangement for directors, the publicly listed Fletcher Building said in a statement to the stock exchange.
Chairman Ralph Waters said Fletcher's retirement marked the end of an era for the company.
"Hugh's retirement from the board will end the last formal link with the Fletcher family that stretches back over 100 years to the very origins of the company in New Zealand.
"In addition to serving as a non-executive director of Fletcher Building since 2001, Hugh was also chief executive officer of Fletcher Challenge Ltd between 1987 and 1997, the forerunner of today's company. Interestingly, it was exactly 34 years ago on this day that Hugh was first appointed to the board of Fletcher Holdings.
"On behalf of the board and shareholders, I would like to acknowledge and thank Hugh for his long service and insightful contribution to Fletcher Building and wish him well for the future," Waters said.
- © Fairfax NZ News