The corporate world's Mr Fixit, Ross Taylor, has been appointed Fletcher Building's new chief executive.
He has been charged with developing a new strategy for the under-fire business.
Following the disclosure of massive loses by Fletcher's Building + Interiors division in July, chief executive of five years Mark Adamson departed overnight. An interim caretaker was appointed internally.
B+I reported losses of $292million for 2017 in July. A further $160million was disclosed yesterday for 2018.
Fletcher chairman Sir Ralph Norris announced Mr Taylor's appointment yesterday, highlighting he had ''proven experience'' leading business turnarounds, having a long career in real estate, construction, manufacturing and engineering sectors, in New Zealand and internationally.
''During his time as chief executive and managing director of both UGL and Tenix he returned loss-making businesses to profitability, doubling the UGL share price in two years,'' Sir Ralph said.
