Sam Stubbs: Simplicity managing director calls for Fletcher Building's board and management to be scrutinised following cost blowout
Simplicity are calling for Fletcher Building's board and management to be scrutinised further.
Fletcher's stock has dropped following a multi-million dollar cost blowout on two big projects in Auckland and Wellington.
Managing director Sam Stubbs says they called for the chair's resignation two years ago- and action hasn't been taken.
"In those two years, the directors paid themselves $4 million in fees- and then they had the absolute cheek last year to ask for a 25 percent pay increase, which they were ultimately talked down from."
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