Email boss to head Fletcher Building

FBU chairman, Rod Deane, says the company has appointed Ralph Waters to head the company. He will replace interim CEO, Michael Andrews, early next month.

Michael Andrews took the role in January when former Fletcher Paper boss Alexander Toeldte announced he would not be taking up the top Building job as planned.

Mr Deane says Mr Waters' track record in managing major change and improving business performance is impressive, highlighted by his recent role as the head of Email.

"In his role as managing director, and following a strategic review, Ralph successfully implemented Email's programme of focussing on growth of core businesses and divesting non-core assets."

"Ralph is a very energetic and focused person. The board has met with him several times and we are confident he will provide the type of enthusiasm and focus that will drive real value within Fletcher Building."

Mr Waters has also worked as Email's group GM of major appliances where he is credited with turning around the group's performance when it was on the ropes in the mid-90s.

"Once again, Ralph's extensive manufacturing, marketing and distribution knowledge combined with his building and steel industry experience have made him an ideal candidate for this role," says Mr Deane.

Mr Waters previous employer, Email, was taken over in March by Smorgon Steel and its appliances division sold to Electrolux.

In the year ended March 2000 Email had annual sales of $A2.1 billion compared with Fletcher Building which recorded operating revenue of $2.38 billion in the year ended June 2000.

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