Fletcher Building chair Bruce Hassall has brought forward his resignation following the company's dismal first-half results.
Hassall and chief executive Ross Taylor announced their resignations as the company last month posted a half year loss of $120 million.
While Hassall was expected to step down at Fletchers' annual shareholders meeting in October, it has since been expedited.
The company today announced his decision to step down "with immediate effect" in an update to shareholders today, Fletchers said in a statement on its website.
He told media at the time he would be stepping down at the company’s annual shareholders meeting in October following the disappointing result.
"Mr Hassall’s decision is to expedite the appointment of a new permanent Chair, who will then lead the appointment of a new CEO."
Barbara Chapman, who has been appointed as its acting chair, will helm the "external and internal search process for the new Chair".
"The Board and Management continue to prioritise the operational performance of the Company, finalisation of the NZICC project, and managing the Western Australia plumbing matters," Chapman said in a statement.
Taylor handed in his six-month notice period for retirement in February.
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