Fletcher Building's new acting chief executive, Francisco Irazusta, is a globe-trotting businessman who has held managerial roles in some of the world's largest building companies.

Spanish-born Irazusta will take over as interim chief executive of one of the country's largest listed companies from Monday after it was announced today that former CEO Mark Adamson was leaving immediately.

This comes after the Fletcher cut its guidance for full-year earnings by a further $125 million and announced $220m impairments in two business units.

Irazusta joined Fletcher Building in 2015 to lead its newly-formed light building products unit.


According to service provider directory Bark.com, Irazusta is the former group managing director of CRH Europe West -- a building materials company with a €3 billion ($4.7b) turnover and 18,000 employees-- and was based in Amsterdam.

He was previously group managing director for CRH Europe's products and building products divisions.

Between 2009 and 2011 Irazusta was president of the board and general manager of Spanish pig farming company Nanta SA, "one of the leading white and Iberian pigs commercialisation companies with over 1.3 million pigs a year", according to his profile on Bark. He was once the managing director of the company's business unit, based in Madrid.

He has also been managing director of concrete company Holcim's Spanish operation and was also on the board of directors and chief executive of Tarmac Iberia, another concrete company.

Irazusta was also general manager and managing director of Jacob Delafon Europe and managing director of Kohler Group, both manufacturing companies, in Paris.

He founded a management and business consulting company in 1994.

Irazusta holds a Master of Science - Industrial Engineering from the State University of New York.

According to his profile on the Fletcher Building website, Irazusta has enjoyed an impressive career in global building products.


"Prior to joining Fletcher Building Francisco steered CRH plc's European Building Products business through tough times, driving performance improvement throughout his tenure," it says.

This story has been altered to correct the spelling of Irazusta's name