Hugh Fletcher steps down from Fletcher Building

Hugh Fletcher, seen her receiving an Honorary Doctor of Laws Degree from The University of Auckland earlier this year. Photo / Sarah Ive

Fletcher Building has today announced the retirement of long-time director Hugh Fletcher.

Fletcher would step down as a non-executive director of Fletcher Building and Fletcher Building Industries with effect from September 30.

The move was part of "the succession arrangement for directors", the company said in statement.

Chairman Ralph Waters said Fletcher's retirement would mark the end of an era for Fletcher Building.

"Hugh's retirement from the board will end the last formal link with the Fletcher family that stretches back over one hundred years to the very origins of the company in New Zealand," he said.

Today's announcement came 34 years to the day since Fletcher was first appointed to the board of Fletcher Holdings, Waters said.

Fletcher had served as a non-executive director of Fletcher Building since 2001.

He was chief executive officer of Fletcher Challenge Limited, the forerunner of today's company, between 1987 and 1997.

Waters thanked Fletcher for his "long service and insightful contribution" to the company.

-nzherald.co.nz