Briefs

Asbestos in new buildings

Six asbestos discoveries have been made in new building projects Australia this year, including one at a children’s hospital in Perth. The latest find was at a NZ$500 million smelter redevelopment in South Australia, media reported. Exposed friable asbestos chrysotile was found in a plaster coating on eight heat exchangers imported from China. Peter Tighe, who heads the federal Asbestos Safety and Eradication Agency said it ‘‘boggles the mind’’.

Post boss quits

New Zealand Post’s chief executive is stepping down after almost seven years overseeing major changes to the operation, in response to declining mail volumes. Brian Roche will leave his role early next year. He joined the New Zealand Post Group as chief executive in January 2010. Roche said it was time for someone new to take up the role, and that he would be retiring from full-time executive positions to pursue other business interests.

ACC has banned investments

State-owned ACC had investments in six companies on its exclusion list in the last year, including $1.4 million in arms manufacturer Lockheed Martin. The fund manager said it had not broken the law. The shares were bought by a collective investment vehicle, managed by Orbis Investment Management, which ACC was part of. The investment was detected in December as part of a routine review, and at the time such pooled investment did not come under ACC’S ethical investment rules. Other indirect investments were in Imperial Brands, British American Tobacco, Serco and Barrick Gold. The investments are no longer held.

Ratcliffe steps down

Mark Ratcliffe says he is not intending to take another full-time job after he steps down as chief executive of network company Chorus around the middle of next year. Ratcliffe, 59, said the time felt to right to retire from the job, and he might in future seek roles as a director, adviser or consultant, though not with Chorus or its competitors. Ratcliffe negotiated the transition from Gattung-era Telecom, where he was chief operating officer, to the new world of ‘‘structural separation’’ and ultrafast broadband (UFB). It comes after Chorus posted a flat profit of $91 million for the year to June 30.