Fletcher Building director Tilbrook steps down, citing other commitments

Thursday 13th November 2014

Fletcher Building director Gene Tilbrook will step down from the board of New Zealand's largest listed company in the first quarter of 2015 because of other commitments.

Tilbrook, who has been with the company since 2009, will also retire from his directorship of subsidiary Fletcher Building Industries, the Auckland based company said in a statement. Tilbrook, a former senior executive at Wesfarmers, was yesterday appointed as a non-executive director of Perth based Woodside Petroleum, Australia’s second largest energy producer. He is also a non-executive director of Aurizon Holdings, Orica, GPT Group and the Bell Shakespeare Company and is president of the Western Australia division of the Australian Institute of Company Directors and a councillor of Curtin University.

"Due to an increase in the number of commitments, and in particular his recent appointment to the board of Woodside Petroleum Ltd in Australia, Gene has indicated that he would no longer be able to dedicate the time required to discharge his duties as a director of Fletcher Building," Fletcher chairman Ralph Norris said. "Fletcher Building has benefitted from his deep financial and strategic experience and his knowledge of the Australian market in particular.”

Fletcher's board, which comprises eight directors, is looking for a suitably experienced director to replace Tilbrook, the company said.

The share last traded at $8.45, and have slipped 0.7 percent this year.

BusinessDesk.co.nz

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