Treasury Secretary Dr P.B. Jayasundera on Friday intervened to settle a dispute between Pradeep Kariyawasam, Chairman of Sri Lanka Insurance Corporation (SLIC) and the rest of the board of directors, informed sources said.
They said at a meeting chaired by the Treasury Secretary, Mr Kariyawasam was asked to adhere to his function as a non-executive chairman and mentor in the company, which reverted to state ownership after its privatisation was reversed in a Supreme Court decision.
Clashes and disagreements have been growing between the directors and the chairman over decisions allegedly taken by Mr Kariyawasam without consulting the board. |