The appointment of a new CEO at Fletcher Building hasn't been enough to restore market confidence in the company.

Fletchers' shares have dropped another two-point-four percent, to seven dollars 28.

The firm has also warned of further losses on big projects of $160 million.

Martin Allison of Craigs Investment Partners told Rachel Smalley there's a lot of pressure on the new chief Ross Taylor.

"Taylor is the fourth CEO in 10 or so years and follows the disastrous period under Mark Adamson. Taylor will be under huge pressure to revive the ailing companies fortunes, reviving a team and culture that has been ripped apart by Adamson," he said.

It was revealed last week the company would face a huge loss thanks to two big projects, Justice Precinct in Christchurch and New Zealand International Convention Centre in Auckland.