Yeah well looking at it like that there are two separate businesses, not just one, that might do with divestment, contracting and residential development. The required mindsets are quite different, and the processes you put in place for one adversely taints the other.
Either you divest or you make the divisions very autonomous. This however requires a divisional CEO with a superb understanding of the business. I am not going to judge the outgoing divisional CEO on whose watch things obviously went astray but he did appear to have the contracting business in his blood. The new girl however doesn't, her last role being the closest but that was the Christchurch role, a cost plus, ticket clipping, no risk role for Fletcher, hardly a tuition in high risk lump sum contracting.
EL
FBU Price at posting:
$7.33 Sentiment: None Disclosure: Not Held
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