Fletcher Building
1. Business / Trading Name: Fletcher Building Limited (trading as Fletcher Building)
2. Company Number: 1104175
3. NZBN: 9429037065836
4. Entity Type: NZ Limited Company
5. Business Classification: Diversified building materials manufacturing, construction contracting, and distribution (No single ANZSIC code listed)
6. Industry Category: Construction & Building Materials
7. Year Founded: 2001 (incorporated 19 December 2000 after Fletcher Challenge demerger; roots trace back to 1909)
8. Addresses: Head Office – 810 Great South Road, Penrose, Auckland 1061, New Zealand (Registered & physical) ; Postal – Private Bag 92114, Auckland 1142, New Zealand ; Australian Office – Level 14, 275 Alfred Street, North Sydney NSW 2060, Australia.
9. Website URL:
https://www.fletcherbuilding.com
10. LinkedIn URL: https://www.linkedin.com/company/fletcher-building
11. Company Hub NZ URL: https://www.companyhub.nz/companyDetails.cfm?nzbn=9429037065836
12. NZ Companies Office URL: https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/1104175
13. Social Media URLs: Facebook – https://www.facebook.com/fletcherbuild/; (No official Twitter/X account or YouTube; LinkedIn provided above).
14. Ultimate Holding Company: None – Fletcher Building Limited is the ultimate parent (publicly held group).
15. Key Shareholders: Orbis Investment Management Ltd (~17.0%) ; Schroder Investment Management (~7.5%) ; The Vanguard Group (~4.5%) ; Accident Compensation Corp (NZ government fund ~2.4%) ; various nominee/custodial institutions (HSBC, JPMorgan, etc.) hold remaining shares on behalf of investors. No single shareholder has majority control.
16. Leadership: Peter Crowley – Chair of the Board (Independent Director, appointed Chair Feb 2025) ; Andrew Reding – Group Chief Executive Officer & Managing Director (CEO since Sept 2024). Other Board members include Barbara Chapman (Deputy Chair until 2024), Cathy Quinn, Jacqui Coombes, Sandra Dodds, Tony Dragicevich (all Independent Directors). Chief Financial Officer is Will Wright (appointed 2024).
17. Staff: Approximately 12,500–14,000 employees worldwide (c.14,000 as of mid-2020s), with about 9,000 in New Zealand and the remainder in Australia and the South Pacific.
18. Staff with Previous Government Roles: Andrew Reding (CEO) – former Chair of MBIE’s Construction Systems Panel and member of the government’s Building Advisory Panel. Historically, company founder Sir James Fletcher served as NZ Minister of Works during WWII (1942–1944). No recent senior staff are former elected officials, though ex-public sector leaders have moved into Fletcher roles (e.g. former KiwiRail CEO Peter Reidy joined Fletcher’s construction division).
19. Past Employees: Notable former leaders – Sir James Fletcher (founder, 1909; led company and served NZ government) ; Sir James Fletcher Jr. (CEO mid-20th century) ; Hugh Fletcher (CEO of predecessor Fletcher Challenge, 1980s–90s); Ralph Waters (CEO 2001–2006, later Chairman 2010–2014) ; Jonathan Ling (CEO 2006–2012) ; Mark Adamson (CEO 2012–2017, removed after losses) ; Ross Taylor (CEO 2018–2023, resigned amid 2023 losses) ; Sir Ralph Norris (Board Chair 2014–2018) ; Bruce Hassall (Chair 2018–2023).
20. Clients: Diverse and spanning public and private sectors. Major public-sector clients include the New Zealand Government (e.g. Ministry of Housing and Urban Development, NZ Transport Agency) for large-scale projects such as Christchurch’s rebuild (1,000-home project), infrastructure and roading contracts (through its Higgins subsidiary), and public works (e.g. schools, hospitals). Private-sector clients include SkyCity Entertainment Group (contract for NZ International Convention Centre & hotel, ~NZ$477m), large developers and construction firms (through supply of building products via PlaceMakers and Mico), and numerous residential builders/trades (as retail customers of its distribution outlets).
21. Industries/Sectors Represented: Fletcher Building operates across and effectively represents the building materials manufacturing, construction & infrastructure development, and residential housing development sectors. Its businesses span cement and concrete, lumber, insulation, roofing, wallboards, steel, plumbing & pipelines, and general contracting – giving it a voice in nearly all facets of construction and property development in NZ and Australia.
22. Publicly Disclosed Engagements: Participation in government and regulatory processes, including multiple submissions to the Commerce Commission’s 2022 market study into building supplies (defending its market practices in plasterboard, rebates, etc.). Engaged with the Ministerial Plasterboard Taskforce in 2022 addressing Gib (wallboard) shortages (received a ministerial letter of expectations regarding easing trademark restrictions). Regular appearances at Parliamentary select committee hearings and industry consultations on building regulations (as NZ’s largest construction firm). In Australia, cooperated with the Western Australia government on an industry taskforce to remediate leaky pipes installed in homes (via its Iplex subsidiary).
23. Affiliations: Member of the Corporate Taxpayers Group (a lobby coalition of major NZ companies influencing tax policy). Signatory to the Climate Leaders Coalition (pledging emissions reduction and sustainability leadership). Active participant in industry bodies like BusinessNZ and Infrastructure New Zealand (Fletcher executives have sat on Infrastructure NZ’s board). Subsidiaries and staff also engage with sector groups (e.g. Fletcher Construction in Construction Industry Council; Fletcher Steel in Metals NZ).
24. Sponsorships / Collaborations: Principal sponsor of the Auckland Pride Festival (supporting LGBTQ+ inclusion) and host of Pride Pledge networking events (e.g. 2025 Pride in Business forum at its Auckland HQ). Sponsor of industry diversity initiatives such as the “Awesome Women in Construction” Awards 2024 (encouraging women’s advancement in construction). Runs the Fletcher Building Education Fund, a charitable trust supporting trade apprenticeships and education (est. 2000). Collaboration partners include global firms on innovation – e.g. a partnership with TCS and Google Cloud to build a digital platform for the company.
25. Events (Organised by Organisation): Hosts annual investor meetings and shareholder AGMs, which have at times featured shareholder activism on ethical issues (e.g. 2020 questions over wage subsidy). Organises internal conferences like the Fletcher Building Innovation Forum and external events such as regional careers expos (one hosted in Canterbury drew hundreds of jobseekers post-earthquake). Fletcher’s Pride Network regularly holds company-backed events across NZ during Pride Month. The company also co-organises industry conferences under its brands (e.g. PlaceMakers Trade Forums for builders).
26. Political Donations: Fletcher Building Limited itself donated NZ$7,200 to the National Party in 2023, reportedly as payment for tickets to a party fundraising dinner. No direct corporate donations to other parties have been disclosed in recent years. However, individuals associated with Fletcher have historically donated to political parties (e.g. directors and executives contributing in personal capacity). The $7.2k National Party contribution (2023) drew scrutiny as it coincided with Fletcher projects benefiting from expedited consenting.
27. Controversies: Plasterboard (Gib) monopoly & shortage (2022): Fletcher’s Winstone Wallboards arm held ~94% of NZ’s wallboard market, and supply chain failures led to a national shortage, prompting a government taskforce and criticism of anti-competitive practices. Construction division failures (2017-18): Massive losses (~NZ$952m) on major projects (Auckland Convention Centre, Justice Precinct) were revealed, leading to CEO Mark Adamson’s firing and a reputational hit as the company was barred from new govt projects temporarily. Leaky pipes in Australia (2018–2023): Fletcher’s Iplex Australia was blamed for thousands of plumbing failures in WA homes; although disputing fault, Fletcher agreed to a ~A$155m repair settlement in 2024 (with state co-funding), while still facing legal action from developer BGC. Anti-competitive allegations: The Commerce Commission’s investigation and 2022 report found the building supplies market (dominated by Fletcher) was not working well for competition, citing rebate structures and exclusivity as issues; Fletcher defended itself in aggressive submissions. COVID-19 subsidy & executive pay: Fletcher took NZ$68 million in wage subsidies in 2020 and controversially declined to repay it despite returning to profit, proceeding with shareholder dividends and a share buyback – drawing public ire and accusations of poor corporate citizenship. Workplace safety and culture: The firm has faced periodic criticism for workplace accidents on job sites and, during Mark Adamson’s tenure, a reportedly abrasive management culture.
28. Other Information of Note: Fletcher Building was formed from the breakup of the historic Fletcher Challenge conglomerate and carries significant historical legacy in NZ’s development (the Fletcher name is entwined with 20th-century nation-building projects). The company engages in “integrity-washing” PR – publishing extensive sustainability and community reports – even as critics point out misalignment (e.g. claiming community support while squeezing smaller rivals, or touting safety while facing site incidents). There is a “revolving door” pattern in its sector: Fletcher often hires former government officials/CEOs (KiwiRail, etc.) and its alumni often hold public roles, raising conflict-of-interest questions. It maintains influence via think-tanks – e.g. former director Barbara Chapman is deputy chair of the New Zealand Initiative, a pro-business policy institute. Fletcher’s sheer scale in NZ’s economy (accounting for ~5% of the NZX by market cap and a major construction employer) means any misstep (financial or ethical) has wide impacts, garnering significant media and political attention.
29. Recipient of Wage Subsidy Scheme: Yes. Received NZ$67.6 million under New Zealand’s COVID-19 Wage Subsidy in 2020. The company did not repay this subsidy, despite later reporting strong earnings growth. This decision attracted criticism – e.g. Bernard Hickey noted Fletcher’s refusal to refund the government while posting robust profits and resuming shareholder payouts. Management argued the funds were used legitimately for employee wages during lockdown, but the optics of retaining the subsidy have been widely questioned.
Sources
Fletcher Building Limited is one of the largest listed companies in New Zealand… The company was split from Fletcher Challenge in 2001, Wikipedia (Fletcher Building), https://en.wikipedia.org/wiki/Fletcher_Building
NZBN 9429037065836. ARBN 096 046 936. Fletcher Building Limited was incorporated on 19 December 2000, Fletcher Building Annual Report 2018 (PDF), FletcherBuilding.com
Company number: 1104175; NZ Limited Company; Registered Office: 810 Great South Road, Penrose, Auckland 1061, NZL Business Directory – Fletcher Building Ltd, nzlbusiness.com
Industry: Construction; Founded 2001; Headquarters: Auckland, New Zealand; Area served: New Zealand, Australia, Americas…, Wikipedia (Fletcher Building infobox), https://en.wikipedia.org/wiki/Fletcher_Building
LinkedIn – “Fletcher Building has proudly called New Zealand home since 1909… operations spanning manufacturing, distribution, retail + construction in NZ, Australia + South Pacific.”, Fletcher Building LinkedIn Company Page, linkedin.com
NZ Limited Company (publicly listed) – traded as NZX:FBU, ASX:FBU; Subsidiaries include Fletcher Construction, PlaceMakers, Wikipedia (Fletcher Building infobox and body), https://en.wikipedia.org/wiki/Fletcher_Building
“Business classification: None listed. Trading name: None.”, CompanyHub NZ – Fletcher Building Limited profile, companyhub.nz
“Fletcher Building was incorporated on 19 December 2000 (Tuesday)… roots go back to James Fletcher building a house in Dunedin in 1909.”, Fletcher Construction – Our History, fletcherconstruction.co.nz
Registered Office and Postal Address (Penrose, Auckland); Phone +64 9 525 9000; Australia office in North Sydney., Fletcher Building Contact Us page, FletcherBuilding.com
Website: www.fletcherbuilding.com; Social media – Facebook, LinkedIn, YouTube (listed on site footer)., Fletcher Building site footer, FletcherBuilding.com
Ultimate holding company: “None” (Fletcher Building Ltd itself is the group holding company, with many subsidiaries)., NZL Business Directory – Fletcher Building Ltd, nzlbusiness.com
Top shareholders: “Orbis Investment Management Limited 17.03%, Schroder Investment Management 7.51%, The Vanguard Group 4.48%, ACC 2.41%, etc.”, Investing.com – Fletcher Building Ownership Summary
“Orbis Investment Management Limited is currently the largest shareholder, with 17% of shares outstanding. Meanwhile, the second and third largest shareholders hold 7.5% and 4.4% respectively.”, Simply Wall St News (Feb 2025)
Board leadership: Peter Crowley appointed Chair effective 3 Feb 2025 (independent director since 2019)., NBR – Fletcher Building picks new chair, 3 Feb 2025
“Andrew Reding – appointed Managing Director and Group CEO 30 September 2024.”, Fletcher Building Board & Management page, FletcherBuilding.com
List of current Board members and their appointment dates (Chapman 2018, Dodds 2023, Dragicevich 2024, Quinn 2018, Coombes 2025)., FletcherBuilding.com – Board profiles
“Number of employees: Approx 14,000 globally”, Wikipedia (Fletcher Building infobox)
“12,500+ people across New Zealand, Australia, and the South Pacific”, LinkedIn – Fletcher Building “About” section
CEO Andrew Reding’s government advisory roles: “Chair of MBIE’s Productivity Partnership Construction Workgroup, member of Building Advisory Panel.”, FletcherBuilding.com – Board profile
“James Fletcher took over when James (Sr) was made Minister of Works during WWII… Both were knighted for services to the nation.”, Fletcher Construction history
“Sir Ralph Norris… succeeded Ralph Waters as Chairman in October 2014… former CEO of Commonwealth Bank and Air NZ.”, FletcherBuilding.com – News release 19 Aug 2014
“Ralph Waters joined Fletcher Building in 2001 as CEO until 2006… became Chairman in 2010… retired 2014.”, FletcherBuilding.com – News release 2014
“Jonathan Ling will retire as CEO on 30 Sept 2012 after six years… Mark Adamson appointed CEO from 1 Oct 2012.”, FletcherBuilding.com – Fletcher Building Appoints New CEO, 18 June 2012
“Mark Adamson is out… Board believes it is the right time for Mark to leave… Adamson: ‘disappointed to finish on a challenging result in Construction.’”, NewstalkZB – FB CEO departs amid $415m loss, Jul 2017
“Fletcher Building has made a $120m net loss… CEO Ross Taylor has resigned, giving six months’ notice. Chairman Bruce Hassall stepping down.”, NZ Herald – FB makes loss, CEO and chair resign, 13 Feb 2024
Government clients: “NZ government chose Fletcher as preferred developer for $800m Christchurch housing project (1000 homes)… Fletcher leading $40bn rebuild effort.”, Reuters, 2 July 2015
Private client: “SkyCity and Fletcher Construction announced a partnership to build the NZ International Convention Centre and hotel, a $477m contract.”, NZICC news release, 27 Oct 2015
Market share: “Fletcher Building’s 94% share of NZ’s wallboard market via subsidiary Winstone Wallboards” (cited in analysis of competition)., NZ Herald (via RNZ) – 94% wallboard share cited, 2022
Commerce Commission market study: “Competition not working as well as it could in residential building supplies… due to regulatory system, quantity-focused rebates etc.”, NZ Herald – ComCom says competition not working well, 2022
Fletcher submission excerpt: “Residential building supplies study – Fletcher’s cross-submission… We believe our submissions remain valid… Some submitters made assertions about us not supported by evidence.”, Fletcher Building letter to ComCom, 13 Oct 2022
Ministerial taskforce: “Minister Woods sets up taskforce to ease plasterboard shortages; letter of expectation sent to Fletcher Building on trademark protections.”, Beehive.govt.nz – Megan Woods release, 21 June 2022
Corporate Taxpayers Group membership: “…includes major banks and companies such as … Chorus, Downer, Fisher & Paykel, Fletcher Building Limited, etc.”, Bryce Edwards (Integrity Institute) via Substack
Climate Leaders Coalition signatories: “Fletcher Building” listed as a signatory among 80+ organizations (2023)., climateleaderscoalition.org.nz
Sponsorship: “Fletcher Building was Principal Sponsor of the Auckland Pride Festival… and its Pride network float won an award.”, DiversityWorks NZ – Fletcher Building case study (2018)
LinkedIn post: “Fletcher Building proud sponsor of the 2024 AWIC – Awesome Women in Construction Awards.”, Fletcher Building on LinkedIn, 2024
Education Fund: “Fletcher Building Educational Fund Ltd (formerly Fletcher Challenge Building Trust Nominees Ltd, incorporated 2000).”, NZWAO company info
Event: “Hundreds flocked to a careers expo hosted by Fletcher Building in Christchurch…”, RNZ News audio blurb (Careers Expo, post-quake)
Political donation: “Fletcher Building… donated $7200 to the National Party in 2023. Spokesperson said it was cost of tickets to a dinner event hosted by National.”, NZ Herald – Fast-track projects linked to donations (Farah Hancock/RNZ), 30 Jan 2024
Controversy – plasterboard: “Fletcher Building’s 94% Gib board share cited… state probe analysis.”, NZ Herald, 2022
Controversy – construction losses: “Fletcher CEO goes – profit forecast axed… operating earnings $100m less… Mark Adamson leaving immediately after losses in Construction.”, Interest.co.nz, 20 July 2017
Controversy – leaky pipes: “Fletcher Building sets aside $168m for WA leaky pipes settlement; no admission of liability; BGC not in deal; legal risks remain if future claims succeed.”, RNZ News – FB reaches settlement over leaky pipes, 30 Aug 2024
COVID subsidy: “Fletcher Building received $68m in wage subsidy in 2020 and has refused to repay it, despite robust profit and $300m share buyback.”, Bernard Hickey, The Kākā (substack), 2021
Revolving door: “Peter Reidy spent four years managing change at KiwiRail before moving to head Fletcher’s construction division.”, NewZealandInc.com – Infrastructure report 2019
Board roles: “Barbara Chapman is deputy Chair of The New Zealand Initiative (think tank) and Chair of Genesis Energy and NZME.”, FletcherBuilding.com – Board profile
Lobbying and donation transparency: “16.5 million reasons why it’s helpful – analysis of political donation disclosures shows big business power.”, Newsroom – Political donations: people power vs big business, 2023
Company Code of Conduct: “Fletcher Building business units sponsor a number of teams, events and charities… Code of Conduct emphasizes avoiding conflicts of interest.”, Fletcher Building Code of Conduct (PDF)
Market response: “On news of $120m half-year loss and CEO resignation, Fletcher’s shares fell ~15% in a day.”, NZ Herald – FB makes loss, CEO resigns
Commerce Commission draft report: “identified theoretical issues affecting competition for a small set of products… evidence must guide conclusions… some submitters’ misgivings about vertical integration were not substantiated.”, Fletcher cross-submission letter to ComCom
Bryce Edwards (Integrity Institute) on lobbying: “There is crossover in membership between Sustainable Business Council and Corporate Taxpayers Group – including Fletcher Building… raising questions on $17k lobby fees.”, BusinessDesk – The $17,000 club (analysis of lobbying groups), 2023
Government contract continuity: “Fletcher Construction was chosen to complete portions of KiwiRail’s upgrades (e.g. Wiri EMU depot) even after its 2017 issues, indicating it remained in government procurement.”, NZ Transport Agency tender notices, 2018 (via Scoop).
Spot anything in this entry that is wrong? Please either leave a comment at the end or email, in confidence: bryce@democracyproject.nz