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Fletcher appoints Tim Richards as building products division CEO

Friday 28th October 2011

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New Zealand's largest listed company Fletcher Building has appointed Tim Richards as chief executive of its building products division.

Richards has been with Fletcher since the 2005 takeover of the Amatek Group and is currently general manager of Stramit, which manufactures roll-formed steel building products.

“Tim has driven considerable growth in the Stramit business through strong leadership, an ability to develop and deliver a strategic growth plan, a focus on creating strong channels to market and completing growth acquisitions,” the company said.

Richards, who will take up his new role in early 2012 and will relocate to Auckland from Sydney, replaces Chris Ellis who resigned in July to become chief executive of Brightwater Group.

Fletcher shares are 19 cents higher at $6.80. The shares fell as low as $6.27 earlier this month, their lowest level since mid-2009, after the company issued a profit warning. They peaked at $9.53 in April.

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