Fletcher Building update on CEO transition & Board renewal

Fletcher Building Limited, Private Bag 92114, Auckland 1142, 810 Great South Road, Penrose, Auckland 1061, New Zealand


Fletcher Building Announces Update on CEO Transition and Board renewal
processes

Auckland, 25 March 2024:
CEO Transition
As part of the previously announced CEO renewal process, Fletcher Building Limited
(“the Company”), today announced that the Board has appointed Nick Traber as Acting
CEO of the Company, replacing Mr Ross Taylor, effective from 29 March 2024 for an
interim period until a permanent CEO is appointed.

Mr Traber has been Chief Executive of the Company’s high performing Concrete division
since January 2021. During his tenure he has improved the operational performance of
the division, including lifting its performance in health & safety, customer satisfaction,
sustainability, and innovation along with a strong and improved financial performance.
Prior to joining the Company, Mr Traber held CEO roles within leading concrete and
building materials company, Holcim, in Europe and South America.

The Board is progressing a robust CEO search process which includes Mr Traber as an
internal candidate, as well as external candidates. The process for the appointment of a
permanent CEO will conclude following appointment of the new Company Chair.

To ensure an orderly transition, Mr Taylor will remain available to support Mr Traber and
the business as required until 23 August 2024.

Mr Taylor commented that he is pleased to see Mr Traber appointed as Acting CEO: “Mr
Traber has participated in a robust internal succession process and has an impressive
track record of strong performance and effective leadership.” Mr Taylor looks forward to
being available to support Mr Traber in the coming months.

The Board appreciates the contribution Mr Taylor has made in the role and his
availability to support Mr Traber over the next few months as required.

Mr Thornton Williams will be appointed acting CE of the Concrete division while Mr
Traber is acting in the CEO role. Mr Williams is currently CFO of the Concrete division.

Fletcher Building Limited, Private Bag 92114, Auckland 1142, 810 Great South Road, Penrose, Auckland 1061, New Zealand
Board Renewal
As also previously announced, the Board of Fletcher Building Limited has committed to
a Board renewal process to identify replacement directors and the appointment of a
new Chair.

The Board is working with Johnson Partners to assist with this process, and discussions
are continuing with potential external candidates. The renewal process will bring new
skills and perspectives to the Board, to assist with the options available for the election
of a new Chair. The Board is committed to finalising the Board renewal process as soon
as possible.

To facilitate the process of Board renewal, Mr Doug McKay has informed the Board that
he will step down with effect from 30 June 2024. Additionally, Mr Rob McDonald has
advised the Board that he will not stand for re-election at the next annual shareholders’
meeting in October and will retire from the Board at that time.

An orderly transition of their Board and Committee responsibilities will occur as the
Board supports management in the financial year end processes and in other key areas.

The Board wishes to thank Mr McKay and Mr McDonald for their very significant
contributions to the Board over the past five years.

#Ends.

Authorised by:
Ashleigh Harding
Company Secretary

For further information please contact:

MEDIA
Christian May
General Manager – Corporate Affairs
+64 21 305 398
Christian.May@fbu.com
INVESTORS AND ANALYSTS
Aleida White
Head of Investor Relations
+64 21 155 8837
Aleida.White@fbu.com