Ann: GENERAL: FBU: Changes to Distribution Division

• Release Date: 03/08/15 12:08
• Summary: GENERAL: FBU: Changes to Distribution Division
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					FBU
03/08/2015 12:08
GENERAL
NOT PRICE SENSITIVE
REL: 1208 HRS Fletcher Building Limited

GENERAL: FBU: Changes to Distribution Division

Changes to Distribution Division

Auckland - 3 August 2015

Fletcher Building today announced that it will combine its New Zealand and
Australian distribution businesses into a single Distribution division.

The division will encompass the PlaceMakers and Mico distribution businesses
in New Zealand along with the New Zealand steel distribution businesses, and
Tradelink in Australia. Dean Fradgley, currently chief executive of New
Zealand Distribution, will head the new division. Each of the key
distribution businesses within the division will be separately led by a
general manager, reporting to Dean.

The integration of all the distribution businesses within one division was
planned to take place once Tradelink's performance had stabilised and this
phase marks an increased focus on growth in this key strategic area. As a
result of the integration, Tim Hickey, chief executive of the Australian
distribution division, will leave Fletcher Building. Tim joined Fletcher
Building in 2013 having previously worked for private equity investors, with
the objective of transforming the Tradelink business. While initially hired
on a short term contract, Tim has been integral to the rejuvenation of the
brand and customer experience over the past two and a half years.

Mark Adamson said the change was the result of the significant opportunities
that had been identified to manage the businesses more closely, and to
leverage skills and scale economies across the entire portfolio of
distribution businesses.

"Dean has lifted PlaceMakers' performance and turned around the Mico plumbing
distribution business in New Zealand. At the same time we have seen strong
benefits from having the steel distribution businesses also managed within
the Distribution division. We believe we can drive further performance
enhancements through a unified management structure and better leverage
Fletcher Building's capabilities across the expanded Distribution portfolio.

"I'd like to thank Tim for the passion and commitment he has brought in
leading the transformation of Tradelink. Tim's energy has been a key catalyst
in revitalising the business and bringing back a much sharper focus on its
customers and he leaves the business well position for continued growth", Mr
Adamson said.

Fletcher Building also announces that Chief Information Officer Carl Powell
will be returning to the UK for personal reasons.

Mark Adamson said Carl had completely reshaped Fletcher Building's approach
to IT and had developed the future roadmap for the group's core IT systems
and also a development function for new digital services.

"We've made huge progress over the past two years in planning our IT
programme and implementation is well underway as we modernise our systems and
look to the future with a suite of customer focus service innovations in
development," Mr Adamson said.

A search has commenced to fill the CIO role that Carl will vacate.

For further information contact:

Philip King
Group General Manager,
Investor Relations & Capital Markets
Phone:  + 64 9 525 9043
Mobile:   + 64 27 444 0203

ENDS
End CA:00267841 For:FBU    Type:GENERAL    Time:2015-08-03 12:08:56