Listed steel products maker and distributor Steel & Tube has announced its chief executive, Dave Taylor, is stepping down later this month.
Taylor, who has held the role for nearly eight years, will leave the company on September 22.
He said he was extremely proud of the Steel & Tube team and was leaving "to focus on other interests"
Chairwoman Susan Paterson thanked Taylor for his lengthy and significant contribution to the company, and wished him well.
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* Building boom challenges put Steel & Tube under pressure
* Charges over steel mesh laid against Steel & Tube by Commerce Commission
A search had begun for a new chief executive, and interim arrangements would be announced shortly, she said.
Steel & Tube is one of several companies which has faced this year by the Commerce Commission over the certification of some of its steel mesh.
The commission alleged that Steel and Tube made misleading representations that the mesh was 500E grade steel, when it was not. Steel & Tube said it stood by its product and that the previous testing methods were ambiguous.
The company's most recent results indicated that it was feeling the pressure of the building boom, with intense pricing competition in the reinforcing steel market and wastage problems at its plastics piping plant.
Steel & Tube made a June year profit of $20m, down 22 per cent on the previous year. The profit was up 3 per cent when a property gain from the previous year was excluded.
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