Hayleys has revived its deputy chairman’s position, which was not filled since July 2009, with this week’s appointment of Dhammika Perera, its single largest shareholder to this post.
Mr Perera, currently Secretary to the Transport Ministry, holds a near 30% stake in the company through individual and related-company holdings.
The post has been vacant since Mohan Pandithage, until then Deputy Chairman at Hayleys, took over as Chairman on July 1, 2009 from N.G. (Tanky) Wickremeratne.
Traditionally the Deputy Chairman takes over and stock market analysts said the latest move would result in Mr Perera, appointed to the board in 2008 as a non-executive director, taking over as Chairman once Mr Pandithage retires or steps down.
If that happens, he would be the first non-working Chairman at the staid group, one of the three biggest conglomerates on the Colombo Stock Exchange, often referred to as a ‘sleeping giant.’
Mr Perera and his investment advisor, Nimal Perera who also serves on the Hayley’s board of directors recently ensued that their nominees were appointed as independent directors in the company, after ‘easing’ out the former independent directors who officially resigned on their own volition. |
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