The Board of Fletcher Building Limited announced an update to shareholders on the Chair succession process it is undertaking. Mr. Bruce Hassall has decided to step down as Chair and director of the Company with immediate effect. Mr. Hassall's decision is to expedite the appointment of a new permanent Chair, who will then lead the appointment of a new CEO.

Ms Barbara Chapman has been appointed as acting Chair and will lead the external and internal search process for the new Chair. Ms Chapman will not be putting herself forward for the permanent Chair role.