SYDNEY, AUSTRALIA: Fletcher Building Ltd, a leading construction and building materials company in New Zealand and Australia, has announced that its Australian chief executive, Dean Fradgley, has decided to retire and will leave the business in early 2024.

Fradgley has been with Fletcher Building for 10 years, serving as the chief executive of the New Zealand distribution division from 2011 to 2018, and then taking over the Australian division in 2018. Under his leadership, the Australian division has improved its margins and profitability, delivering a strong performance in the 2021 financial year.

Fletcher Building CEO Ross Taylor says: “Over the past decade, Dean has been a key member of our Executive Team both in New Zealand and Australia. Over the last five years he has led our Australian operations and has achieved significant success in improving margins and profitability. With the business now in a sound financial position, he has indicated that this is an appropriate time for him to step down. We thank him for his contribution and wish him well for the future.”

Taylor says that Fradgley will remain with the business until early 2024 while the company undertakes a search for a new chief executive to lead the Australian division. He says that the company will inform the market once the appointment is made.

Fletcher Building operates more than 500 sites across New Zealand and Australia, employing over 16,000 people. The company’s core businesses include building products, distribution, concrete, residential and development, construction, and Australia. The company reported a net profit after tax of NZ$382 million for the year ended June 30, 2021, up from NZ$196 million in the previous year.