NZ's Fletcher Building appoints Andrew Reding as group CEO
Adds more details from paragraph 2 onwards
Aug 20 (Reuters) -New Zealand's Fletcher Building FBU.NZ on Tuesday appointed Andrew Reding as its Group Chief Executive Officer and Managing Director from Sept. 30.
Reding will replace acting CEO Nick Traber, who has been leading the construction services provider for the past six months.
Fletcher has seen its top executives step down in recent months as the construction firm struggles with cost blowout, weak earnings and declining share prices.
Reding has previously been the CEO of Building Products and Steel and managing director of Fletcher Wood Panels during his time at the company.
"My immediate priorities will be to understand and then optimise the operational performance across the businesses for the prevailing challenging market conditions," Reding said.
"I will also be undertaking a strategic review which I will announce to the market in the first half of next year."
Reporting by Shivangi Lahiri in Bengaluru; Editing by Arun Koyyur
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