A grim-faced Sir Ralph Norris resigned as chairman of Fletcher Building saying the board had to be accountable for the troubled building group’s massive construction losses.
Norris had planned to stay in the job until next year, but decided at the weekend to step down in the face of a $486 million increase in the projected losses for Fletchers’ troubled Building and Interiors (B&I) division on 16 major construction projects.
“It’s fair to the shareholders for somebody to take accountability,” Norris said.
Fletcher Building shares dropped by 13 per cent when trading restarted on Wednesday.
from Ellie NZ Rss http://www.stuff.co.nz/business/101411661/Incompetence-behind-Fletcher-Buildings-woes-admits-chairman-Sir-Ralph-Norris
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https://ellieplume83.wordpress.com/2018/02/14/incompetence-behind-fletcher-buildings-woes-admits-chairman-sir-ralph-norris/
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